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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Consolidating

SILVER TECHS
  • RES 4: $28.556 - High Jun 1
  • RES 3: $28.285 - High Jun 11 and a key resistance
  • RES 2: $27.831 - High Jun 16
  • RES 1: $26.775/27.245 - High Jul 6 / High Jun 17
  • PRICE: $26.239 @ 07:23 BST Jul 16
  • SUP 1: $25.529 - Low Jun 29 and a bear trigger
  • SUP 2: $25.199 - Low Apr 14
  • SUP 3: $24.955 - 76.4% retracement of the Mar 31 - May 18 rally
  • SUP 4: $24.686 - Low Apr 13

Silver is unchanged and continues to consolidate. The metal recently breached $26.495, Jun 18 high. The break neutralises a recent bearish theme and signals scope for a stronger S/T recovery. If Silver is able to resume its climb, this would open $27.245, Jun 17 high. Thus far, price has failed to hold onto recent gains and attention is on the key support and bear trigger at $25.529, Jun 29 low. Clearance of this level resumes a downtrend.

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