MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Clears the 1.1990 Hurdle - And Comfortably

EURUSD TECHS
  • RES 4: 1.2154 2.0% 10-dma envelope
  • RES 3: 1.2134 Bear channel top drawn off the Jan 6 high
  • RES 2: 1.2116 76.4% retracement of the Feb 25 - Mar 31 sell-off
  • RES 1: 1.2048 High Apr 19
  • PRICE: 1.2031 @ 16:47 BST Apr 19
  • SUP 1: 1.1942/01 50-day EMA / 20-day EMA
  • SUP 2: 1.1861 Low Apr 7 and 8 and key near-term support
  • SUP 3: 1.1795 Low Apr 6
  • SUP 4: 1.1738 Low Apr 5

EURUSD has broken higher and cleared last week's highs. Importantly, the pair has breached the key short-term resistance at 1.1990, Mar 11 high strengthening current trend conditions. This break signals scope for a climb towards 1.2116, the next retracement above 1.2037. On the downside, firm short-term support remains 1.1942, the 20-day EMA. Monday's intraday low is 1.1943.

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