MNI China Daily Summary: Tuesday, December 10

MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: GERMAN NOV CPI +2.2 % Y/Y

MNI: NORWAY NOV CORE CPI +0.1% M/M, +3% Y/Y

MNI: NORWAY NOV CPI +0.3% M/M, +2.4% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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(U4) Bull Cycle Remains In Play

BUND TECHS
  • RES 4: 134.00 Round number resistance
  • RES 3: 133.42 1.764 projection of the May 31 - Jun 5 - 1 price swing
  • RES 2: 133.21 High Jun 14 and the bull trigger
  • RES 1: 132.92 High Jul 25
  • PRICE: 132.37 @ 05:24 BST Jul 26
  • SUP 1: 131.80/62 50-day EMA / Low Jul 22
  • SUP 2: 130.95/23 Low Jul 10 / 3 and key short-term support
  • SUP 3: 129.52 Low Jun 10
  • SUP 4: 129.37 Low May 31 and the bear trigger

A bull cycle in Bund futures remains in play and the contract is trading closer to its recent highs. Support around the 50-day EMA, remains intact and 132.51, the 76.4% retracement of the Jun 14 - Jul 3 bear leg, has been pierced. A continuation higher would open 133.21, the Jun 14 high. For bears, a resumption of weakness would refocus attention on key support at 130.23, the Jul 3 low. First support is 131.80, the 50-day EMA.

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