MNI: PBOC Net Injects CNY8 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1196 Fri; -1.41% Y/Y

CHINA PBOC CONDUCTS CNY10 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1196 FRI VS 7.1192

MNI China Daily Summary: Thursday, June 20

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

Japan May Core CPI +2.5% Y/Y; Energy Price Surges

MNI BRIEF: Japan May Core CPI Rises 2.5% Vs. April +2.2%

MNI JAPAN MAY CORE CPI +2.5% Y/Y; APRIL +2.2%

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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Bull Cycle Still In Play

SILVER TECHS
  • RES 4: $26.135 - High May 5 and a bull trigger
  • RES 3: $26.267 - High Jul 20 and a key resistance
  • RES 2: $24.838 - High Jul 3
  • RES 1: $24.550 - 76.4% retracement of the Jul 20 - Aug 14 downleg
  • PRICE: $24.283 @ 08:03 BST Aug 29
  • SUP 1: $23.413 - Low Aug 23
  • SUP 2: $22.667/227 - Low Aug 21 / 15
  • SUP 3: $22.111 - Low Jun 23 and a bear trigger
  • SUP 4: $21.375 - 76.4% retracement of the Mar 10 - May 5 bull leg

Last week’s move higher in Silver highlights a stronger short-term bull cycle. The metal has cleared resistance at the 50-day EMA - at $23.613. The break signals scope for a climb towards $24.550, a Fibonacci retracement point. Clearance of this level would open $25.267, the Jul 20 high and a key resistance. On the downside, initial support to watch is $23.413, the Aug 23 low. A break would signal a potential reversal.

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