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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1058 Thurs; -4.80% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1058 THURS VS 7.1048

MNI China Daily Summary: Wednesday, April 24

MNI BRIEF: China Steel Demand Q2 Limited Rebound

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: Italy, EU Auctions, BoE APF Monday

US EIA: CRUDE OIL STOCKS EX SPR -6.37M TO 453.6M APR 19 WK

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: USDTRY Approaching Last Week’s High

EMERGING MARKETS
  • EURHUF remains below 371.99, Nov 23 high. A bullish theme remains intact and near-term support has been defined at 364.78, Nov 25 low. Further gains would set the scene for a climb towards 372.90 next, 1.236 projection of the Nov 4 - 12 - 18 price swing. Below 364.78, a key short-term support lies at 362.04. Nov 18 low.
  • EURPLN remains below last week’s high of 4.7416 on Nov 23. The trend outlook remains bullish and the recent breach of 4.6480, Sep 30 high, strengthens this case. The cross has also traded above 4.6800, Mar 29 high and cleared the 4.70 handle . This has opened 4.7424, the 1.382 projection of the Sep 1 - Sep 30 - Oct 7 price swing. Initial support is at 4.6588, the 20-day EMA.
  • USDZAR trend needle still points north and last week’s strength resulted in a breach of the 16.00 handle. Attention is on 16.3815, 50.0% of the downleg between Mar 2020 - Jun 2021. A clear breach of this level would signal scope for a climb towards 16.7193, the Oct 15 2020 high ahead of 17.0823 further out, the 61.8% retracement. Support is seen at 15.6147, the 20-day EMA.
  • USDTRY is firmer but remains below last week’s high of 13.4539 on Nov 23. The risk remains skewed to the upside. In terms of support, the Nov 23 low of 11.3603 is the first key short-term reference point while the bull trigger is 13.4539. Both levels represent important short-term directional triggers.
  • USDRUB remains in an uptrend and the pair has recently breached resistance at 75.3497, Jul 8 high. This opens the 76.00 handle and 76.5806, the Apr 22 high. Initial support is seen at 74.0639, the Nov 23 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.