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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(Z3) Bearish Outlook

EUROSTOXX50 TECHS
  • RES 4: 4359.00 High Sep 15 and key resistance
  • RES 3: 4300.00 Round number resistance
  • RES 2: 4216.40/4256.00 50-day EMA / High Oct 12
  • RES 1: 4148.00 20-day EMA
  • PRICE: 4081.00 @ 06:16 BST Oct 25
  • SUP 1: 4006.00 Low Oct 23
  • SUP 2: 3979.00 1.00 proj of the Sep 15 - Oct 4 - Oct 12 price swing
  • SUP 3: 3914.00 Low Mar 20 (cont)
  • SUP 4: 3873.20 1.382 proj of the Sep 15 - Oct 4 - Oct 12 price swing

A bearish theme in Eurostoxx 50 futures remains in play and last week’s extension lower reinforces current conditions. Support at 4082.00, the Oct 4 low and a bear trigger, has been cleared. This confirms a resumption of the downtrend and maintains the bearish price sequence of lower lows and lower highs. The focus is on the 4000.00 handle. Initial firm resistance is at 4148.00, the 20-day EMA.

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