MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI BRIEF: Size Of June Cut Still Undecided -BCB's Campos Neto

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

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

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

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Bear Leg Extends

USDCAD TECHS
  • RES 4: 1.3224 High Jul 14 and key resistance
  • RES 3: 1.3122/35 3.0% Upper Bollinger Band / High Jul 15
  • RES 2: 1.3038 High Jul 18
  • RES 1: 1.2874/2985 20-day EMA / High Aug 5
  • PRICE: 1.2751 @ 16:33 BST Aug 11
  • SUP 1: 1.2744 200-dma
  • SUP 2: 1.2728 Low Aug 11
  • SUP 3: 1.2685 76.4% retracement of the Jun 8 - Jul 14 upleg
  • SUP 4: 1.2596 2.0% 10-dma envelope

USDCAD extended losses Thursday, printing a new multi-month low in the process. This extends the current bear leg having cleared support at 1.2767, the Aug 1 low. The move lower paves the way for a bearish extension and attention is on a clean close below 1.2744, the 200-dma and 1.2685, a Fibonacci retracement. On the upside, a breach of last Friday’s 1.2985 high is required to reinstate a bullish theme.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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