MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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 - Pullback In EURHUF Appears To Be A Correction

EMERGING MARKETS
  • EURHUF is trading lower today - the move down appears to be a correction, for now. Recent gains confirmed an extension of the current bull cycle. Key resistance and the bull trigger at $385.77, the Dec 18 high, has been cleared. The break opens 389.20, the Oct 9 2023 high, ahead of 390.16, 76.4% of the Sep 28 - Nov 14 bear leg. Initial firm support to watch lies at 381.42, the 50-day EMA.
  • Recent gains in EURPLN resulted in the break of 4.3749, the Jan 3 high. Note that the cross has also traded above the 50-day EMA - a bullish development. The bull trigger is at 4.4124, the Jan 17 high. A break would open 4.4477, the 38.2% retracement of the Sep - Dec bear leg last year. Note that the current bull phase still appears to be a correction. The bear trigger lies at 4.2935, the Dec 13 low. Initial support to watch is at 4.3309, the Jan 9 low.
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.