MNI China Daily Summary: Friday, Aug 23

MNI: PBOC Net Injects CNY241.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1358 Fri; +2.17% Y/Y

CHINA PBOC CONDUCTS CNY379.3 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1358 FRI VS 7.1228

MNI: PBOC Sets Yuan Parity Lower At 7.1228 Thurs; +2.24% Y/Y

MNI: CANADIAN JUN RETAIL SALES -0.3%; SALES EX-AUTOS/PARTS +0.3%

Firmer Than Expected Inflation Expectations And Softer Growth

MNI: ECB 1-YEAR CONSUMER INFLATION EXPECTATIONS 2.8%

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

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Bias Back To Lower After Loss Of Key.....>

GOLD TECHS
GOLD TECHS: Bias Back To Lower After Loss Of Key Supports
*RES 4: $1289.3 Dec 1 high
*RES 3: $1283.0 Hourly recovery high Nov 30
*RES 2: $1277.6 Dec 4 high
*RES 1: $1270.4 Nov 30 low
*PRICE: $1253.1 @1715GMT
*SUP 1: $1251.7 Aug 8 low
*SUP 2: $1242.5 1.618x $1299.3-$1270.4 from $1289.3
*SUP 3: $1240.9 76.4% Fibo of $1204.8-$1357.7
*SUP 4: $1232.6 1.618 swing of $1260.7-$1306.1
*COMMENTARY* Unable to make a break through the top of the recent range, being
capped by $1299.3-$1299.7 resistance. The subsequent fall back to the base of
the range and beyond has been swift. This has resulted in the loss of the 2017
bull channel base at $1262.3 and the Oct 2 low at $1260.7. This swings overall
bias back to the downside and further corrections of gains initially from
$1204.8 and potentially from $1122.6. Resistance $1270.4-$1277.6.
Energy BulletsCommodities
Energy BulletsCommodities

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