MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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 - USDTRY Bull Wave Extends

EMERGING MARKETS
  • USDZAR is trading lower but remains above its recent lows. For now, short-gains are considered corrective. Recent bearish price action resulted in a break of trendline support drawn from the Jan 13 low. The trendline intersects at 18.8293 and the breach strengthens a bearish condition, signalling scope for 18.00 and 17.9928, the Apr 20 low. On the upside, the pair has pierced the 20-day EMA, at 18.6971, the 20-day EMA. A clear break of this average and a move above resistance at the former trendline support (18.8293) would be seen as a short-term bullish development and signal scope for a stronger recovery.
  • The path of least resistance in USDTRY is unchanged and remains up. The latest recovery highlights a continued acceleration of the uptrend. The 26.00 objective has been pierced and the focus is on 27.00 next. The 20-day EMA at 23.2341 marks the first key support.
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.