MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Approaching The Base Of Its Bear Channel

EURUSD TECHS
  • RES 4: 1.0060 Bear channel top drawn from the Feb 10 high
  • RES 3: 0.9956 20-day EMA
  • RES 2: 0.9852 High Sep 23
  • RES 1: 0.9710 Intraday high
  • PRICE: 0.9634 @ 06:11 BST Sep 26
  • SUP 1: 0.9554 Intraday low
  • SUP 2: 0.9522 Bear channel base drawn from the Feb 10 high
  • SUP 3: 0.9501 1.382 projection of the Aug 10 - Sep 6 - 12 price swing
  • SUP 4: 0.9442 1.50 projection of the Aug 10 - Sep 6 - 12 price swing

EURUSD remains vulnerable and has started this week’s session on a bearish note. The break lower confirms a resumption of the primary downtrend - reinforced too by last week’s breach of 0.9864, the Sep 6 low. The move lower maintains the bearish price sequence of lower lows and lower highs. Price is also trending lower inside a bear channel drawn from the Feb 10 high. The channel base intersects at 0.9522.

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