MNI China Daily Summary: Wednesday, December 11

MNI BRIEF: Chinese Rail Passenger Numbers Break Record

MNI: PBOC Net Injects CNY37.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Lower At 7.1843 Weds; -1.22% Y/Y

MNI BRIEF: Brazil Not Even Close To Fiscal Dominance - David

CORRECTED-MNI BRIEF: Brazil Inflation Rises To 4.87% In Nov

EZ/UK Bond Supply Calendar: 4.25% Jul-34 Gilt Due Wednesday

EZ/UK T-Bill Calendar: 12-Month BOT Auction on Wednesday

MNI: JAPAN NOV CORP GOODS PRICE INDEX +3.7% Y/Y; OCT REV +3.6%

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

EQUITIES: E-Mini S&P Targets Fibonacci Projection Level at $6106.36 Next

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurostoxx 50 futures have traded higher this week and the contract is holding on to its recent gains. The latest move higher undermines a recent bearish theme. Price has traded through the 50-day EMA, at 4864.78. The clear breach of this average strengthens a bullish theme and signals scope for a stronger recovery, opening 4961.00, the Nov 6 high. Key support lies at 4699.00, the Nov 19 low. A break of it would resume the recent bear cycle. The S&P E-Minis contract maintains a bullish tone and continues to appreciate. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on the 6106.36 next, a Fibonacci projection. Initial support to watch lies at 5990.65, the 20-day EMA.

  • Japan's NIKKEI closed higher by 119.21 pts or +0.3% at 39395.6 and the TOPIX ended 1.64 pts higher or +0.06% at 2742.24.
  • Elsewhere, in China the SHANGHAI closed higher by 4.205 pts or +0.13% at 3368.855 and the HANG SENG ended 182.02 pts lower or -0.92% at 19560.44.
  • Across Europe, Germany's DAX trades higher by 37.51 pts or +0.19% at 20268.58, FTSE 100 higher by 7.12 pts or +0.09% at 8342.51, CAC 40 up 24.17 pts or +0.33% at 7326.85 and Euro Stoxx 50 up 22.81 pts or +0.46% at 4941.3.
  • Dow Jones mini down 1 pts or 0% at 45105, S&P 500 mini down 3.5 pts or -0.06% at 6095, NASDAQ mini down 33.5 pts or -0.16% at 21502.75.
257 words

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.

Eurostoxx 50 futures have traded higher this week and the contract is holding on to its recent gains. The latest move higher undermines a recent bearish theme. Price has traded through the 50-day EMA, at 4864.78. The clear breach of this average strengthens a bullish theme and signals scope for a stronger recovery, opening 4961.00, the Nov 6 high. Key support lies at 4699.00, the Nov 19 low. A break of it would resume the recent bear cycle. The S&P E-Minis contract maintains a bullish tone and continues to appreciate. This confirms a resumption of the uptrend and signals scope for a continuation near-term. Note that moving average studies are in a bull-mode set-up, highlighting a dominant uptrend and positive market sentiment. Sights are on the 6106.36 next, a Fibonacci projection. Initial support to watch lies at 5990.65, the 20-day EMA.

  • Japan's NIKKEI closed higher by 119.21 pts or +0.3% at 39395.6 and the TOPIX ended 1.64 pts higher or +0.06% at 2742.24.
  • Elsewhere, in China the SHANGHAI closed higher by 4.205 pts or +0.13% at 3368.855 and the HANG SENG ended 182.02 pts lower or -0.92% at 19560.44.
  • Across Europe, Germany's DAX trades higher by 37.51 pts or +0.19% at 20268.58, FTSE 100 higher by 7.12 pts or +0.09% at 8342.51, CAC 40 up 24.17 pts or +0.33% at 7326.85 and Euro Stoxx 50 up 22.81 pts or +0.46% at 4941.3.
  • Dow Jones mini down 1 pts or 0% at 45105, S&P 500 mini down 3.5 pts or -0.06% at 6095, NASDAQ mini down 33.5 pts or -0.16% at 21502.75.