MNI China Daily Summary: Wednesday, May 8

MNI BRIEF: BOJ To Allow Markets To Determine Long Rates-Ueda

MNI BRIEF: BOJ Would Adjust Rates Earlier If Necessary - Ueda

MNI BRIEF: China Attended DEPA Negotiations - MOFCOM

MNI: PBOC Net Injects CNY2 Bln Via OMO Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.1016 Weds; -4.20% Y/Y

US MBA: REFIS +5% SA; PURCH INDEX +2% SA THRU MAY 3 WK

MNI: US MBA: MARKET COMPOSITE +2.6% SA THRU MAY 03 WK

Strongest Manufacturing IP Since April 2008

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

CEEMEA FX Price Signal Summary - EURPLN Trend Signals Remain Bearish

EMERGING MARKETS
  • EURHUF maintains a softer tone. The cross reversed course last week and price traded sharply lower from the Dec 12, 420.46 high. The move lower cancels the recent (bullish) break of resistance at 416.03, the Oct 24 high and instead signals scope for a deeper short-term pullback that has exposed 398.30, the Nov 10 low. For bulls, a break of 420.46 is required to reinstate a positive theme.
  • EURPLN has traded lower this week, breaching support at 4.6595, the Nov 30 low. The break lower signals the end of the recent period of consolidation and resumes the downtrend. The focus is on 4.6528 next, the Aug 15 low (pierced) ahead of 4.6262, the Jun 21 low. Initial firm resistance is seen at 4.7220, the Dec 6 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.