MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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

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

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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Corrective Bounce Extends

EURUSD TECHS
  • RES 4: 1.1755 High Sep 22
  • RES 3: 1.1594/92 Bear channel top from Jun 1 high / High Oct 28
  • RES 2: 1.1514 Low Nov 5
  • RES 1: 1.1374 High Nov 18 and the 20-day EMA
  • PRICE: 1.1366 @ 09:44 GMT Nov 30
  • SUP 1: 1.1258 Low Nov 29
  • SUP 2: 1.1186/85 Low Nov 24 / Low Jul 1, 2020
  • SUP 3: 1.1128 1.764 proj of the Jan 6 - Mar 31 - May 25 price swing
  • SUP 4: 1.1040 76.4% retracement of the Mar ‘20 - Jan ‘21 uptrend

EURUSD has continued to push higher this morning and is trading above Friday’s high. The pair is approaching resistance at 1.1374, the Nov 18 high and the 20-day EMA. A clear break of this hurdle would signal scope for a stronger short-term recovery and open the 1.1514 level potentially, Nov 5 low. Gains are considered corrective. A resumption of weakness would refocus attention on the bear trigger at 1.1186/85.

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