MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

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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BUND TECHS: (Z4) Bull Cycle Remains In Play

BUND TECHS
Fixed Income Technical AnalysisCredit BulletsBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 134.87 76.4% retracement of the Oct 1 - Nov 6 bear leg        
  • RES 3: 134.63 High Oct 4 
  • RES 2: 134.25 High Oct 16 / 18
  • RES 1: 134.05 61.8% retracement of the Oct 1 - Nov 6 bear leg                         
  • PRICE: 133.93 @ 05:34 GMT Nov 27
  • SUP 1: 132.91/62 50- and 20-day EMA values 
  • SUP 2  131.28 Low Nov 14             
  • SUP 3: 130.58 Low Nov 6 and the bear trigger 
  • SUP 4: 129.99 1.236 proj of the Oct 1 - 10 -16 price swing 

Bund futures maintain a firmer tone and the contract is trading at this week’s highs. Price has recently cleared the 20- and 50-day EMAs. This undermines the recent bearish theme and note that 133.39 has been breached, the 50.0% retracement of the Oct 1 - Nov 6 bear leg. Sights are on 134.05, the 61.8% retracement point, and 134.25, the high on Oct 16 and 18. Initial firm support to watch lies at 132.62, the 20-day EMA.

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  • RES 4: 134.87 76.4% retracement of the Oct 1 - Nov 6 bear leg        
  • RES 3: 134.63 High Oct 4 
  • RES 2: 134.25 High Oct 16 / 18
  • RES 1: 134.05 61.8% retracement of the Oct 1 - Nov 6 bear leg                         
  • PRICE: 133.93 @ 05:34 GMT Nov 27
  • SUP 1: 132.91/62 50- and 20-day EMA values 
  • SUP 2  131.28 Low Nov 14             
  • SUP 3: 130.58 Low Nov 6 and the bear trigger 
  • SUP 4: 129.99 1.236 proj of the Oct 1 - 10 -16 price swing 

Bund futures maintain a firmer tone and the contract is trading at this week’s highs. Price has recently cleared the 20- and 50-day EMAs. This undermines the recent bearish theme and note that 133.39 has been breached, the 50.0% retracement of the Oct 1 - Nov 6 bear leg. Sights are on 134.05, the 61.8% retracement point, and 134.25, the high on Oct 16 and 18. Initial firm support to watch lies at 132.62, the 20-day EMA.