MNI BRIEF: China Nov Exports Slows, Imports Slide

MNI BRIEF: China Crude Oil Imports Accelerate In November

RBA SAYS SOME UPSIDE INFLATION RISKS HAVE EASED.

CHINA NOV EXPORTS +6.7% Y/Y VS MEDIAN +8.9% Y/Y: CUSTOMS

MNI: CHINA YTD EXPORTS +6.7% Y/Y IN YUAN TERM: CUSTOMS

MNI: PBOC Net Injects CNY90.3 Bln via OMO Tuesday

MNI: RBA LEAVES CASH RATE AT 4.35%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

EZ/UK T-Bill Calendar: Spain, Belgium Auction on Tuesday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary: EURHUF Clears Key Resistance

EMERGING MARKETS
  • EURHUF is trading higher. Today's gains have confirmed a break of 362.46, the Jul 26 high and a key resistance. The break reinforces bullish conditions and opens 364.40, Apr 23 high. Initial firm support has been defined at 358.56, Oct 15 low.
  • EURPLN is unchanged. The cross continues to trade above 4.5392, Oct 7 low. This is a key short-term support. The sharp bull reversal on Oct 7 signals the end of the recent Sep-30 to Oct 7 correction. Attention remains on 4.6480, Sep 30 high where a break would strengthen a bullish case and open 4.6800, Mar 29 high. Weakness below 4.5392 would alter the picture.
  • USDZAR is trading lower again today and has breached support at 14.5701, Sep 23 low. The pair has also recently cleared the 50-day EMA and this, together with the breach of 14.5701, signals scope for a deeper pullback. The focus is on 14.3444, 76.4% of the Sep 10 - 30 rally. 14.8035, the 20-day EMA marks initial resistance.
  • USDTRY bulls are still firmly in control. The 9.20 handle has been cleared and scope is seen for a move towards 9.3803, 2.382 projection of the Sep 10 - 20 - 22 price swing. The 2.50 projection is at 9.4185. Key support is 8.8008, the former range top and Jun 2 high. Initial firm support is seen at 8.9577, the Sep 29 high and a recent breakout level. The 20-day EMA, as a support, intersects at 8.9841.
  • USDRUB remains bearish and traded lower again yesterday. Support at 71.5542, Jun 11 low has been breached and this confirms a resumption of the broader downleg that has been in place since early November 2020. 71.0838, 76.4% retracement of the Jun - Nov 2020 rally has also been cleared. The focus is on 70.5395, Jul 21, 2020 low. Initial firm resistance is at 72.1306, Oct 13 high.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.