FED’S DALY: POLICY ADJUSTMENTS LIKELY WARRANTED AT SOME POINT

MNI China Daily Summary: Thursday, July 11

MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: PBOC Conducts CNY2 Bln Via OMO Thurs; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

US EIA:NAT GAS STORAGE +65 BCF TO 3,199 BCF JUL 05 WK

Core Goods Above-Expected, But Headline Weakest Since Pandemic(2/2)

CPI Miss Driven By Comprehensively Slower Services Inflation (1/2)

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

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

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

CEEMEA FX Price Signal Summary: EURPLN Eyes Key Support

EMERGING MARKETS
  • The short-term outlook in EURHUF remains bullish and gains last week reinforce current bullish conditions. Moving average studies are in a bull mode and attention is on 399.64, Mar 7 high and the next key resistance. Firm support is seen at 380.76, May 24 low. A break of this level would be seen as a bearish development.
  • EURPLN remains in a bear mode and is trading closer to its recent low. The cross is through the 4.60 handle - a clear breach of this level and a continuation lower has exposed 4.5588, Apr 6 low. This is a key short-term support and a break would allow for a deeper retracement, towards the 4.50 handle. On the upside, key resistance has been defined at 4.7279, the Apr 26 high. Initial resistance is at 4.6490, the 50-day EMA.
  • The current USDZAR bear cycle remains in play and the pair traded lower yesterday to a fresh monthly low. The pair has breached both the 20- and 50-day EMAs and attention is on key support at 15.4112, May 4 low. The current retracement is still considered corrective. A reversal higher would refocus attention on 16.3237, May 16 high and the bull trigger. Note however that a break of 15.4412 would expose 15.1364, 61.8% of the Mar 31 - May 16 bull leg.
  • USDTRY continues to trade at its recent highs. The pair maintains a bullish tone following recent gains and the break of the 16.00 handle. Attention is on 16.4488 (76.4% of the Dec 20 - 23 sell-off) that has been tested. A clear break would open the 17.00 level. Initial firm support lies at 15.7388, the 20-day EMA.
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.