MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

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 Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

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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E-MINI S&P (Z2): Watching Support

EQUITY TECHS
  • RES 4: 4100.00 Round number resistance
  • RES 3: 4023.44 61.8% retracement of the Aug 16 - Oct 13 downleg
  • RES 2: 3981.25 High Sep 14
  • RES 1: 3830.59/3928.00 50-day EMA / High Nov 1
  • PRICE: 3780.75 @ 14:20 GMT Nov 4
  • SUP 1: 3704.25/3641.50 Low Nov 3 / Low Oct 21
  • SUP 2: 3590.50/3502.00 Low Oct 17 / 13 and the bear trigger
  • SUP 3: 3491.13 50.0% retracement of the 2020 - 2022 bull cycle
  • SUP 4: 3453.78 1.618 proj of the Aug 16 - Sep 7 - 13 price swing

S&P E-Minis traded lower Thursday, extending the pullback from 3928.00, the Nov 1 high. Despite the latest retracement, a bull cycle remains in play following the recovery from 3502.00, Oct 13 low. A strong resumption of gains would refocus attention on 3928.00, where a break would confirm the bull theme and open 3981.25, Sep 14 high. Key S/T support to watch is 3641.50, the Oct 21 low. A break would strengthen any developing bearish threat.

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