MNI China Daily Summary: Friday, November 15

MNI BRIEF:China Optimistic On Property Despite Investment Fall

MNI BRIEF: China Oct Retail Sales Surge On Holiday, Trade-ins

CHINA OCT INDUSTRIAL OUTPUT +5.3% Y/Y VS MEDIAN +5.5% Y/Y: NBS

MNI: PBOC Net Injects CNY968.8 Bln via OMO Friday

CHINA PBOC CONDUCTS CNY981 BLN VIA 7-DAY REVERSE REPOS FRI

MNI: FRANCE OCT HICP +0.3% M/M, +1.6% Y/Y

MNI: UK Q3 GDP +0.1% Q/Q, +1% Y/Y

MNI: UK SEP TRADE BALANCE GBP -3.46BN

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EQUITIES: Bearish Theme in Eurostoxx 50 Futures Intact Despite Thursday’s Gains

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Despite Thursday’s gains, a bearish condition in Eurostoxx 50 futures remains intact. The move lower this week marks a resumption of the downtrend that started Sep 30. Price has breached 4746.94, 61.8% of the Aug 5 - Sep 30 bull cycle. This exposes 4662.12, the 76.4% retracement point. Initial firm resistance has been defined at 4961.00, Nov 6 high, where a break would highlight a reversal. For now, gains are considered corrective. The trend condition in S&P E-Minis remains bullish and the latest pullback is - for now - considered corrective. A key short-term support has been defined at 5724.25, the Nov 4 low. Initial supports to watch are 5911.09 and 5823.84, the 20- and 50-day EMA points respectively. Recent gains resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. Sights are on 6070.16, a Fibonacci projection.

  • Japan's NIKKEI closed higher by 107.21 pts or +0.28% at 38642.91 and the TOPIX ended 10.42 pts higher or +0.39% at 2711.64.
  • Elsewhere, in China the SHANGHAI closed lower by 49.113 pts or -1.45% at 3330.726 and the HANG SENG ended 9.47 pts lower or -0.05% at 19426.34.
  • Across Europe, Germany's DAX trades lower by 33.11 pts or -0.17% at 19230.1, FTSE 100 lower by 3.82 pts or -0.05% at 8067.32, CAC 40 down 8.42 pts or -0.12% at 7303.38 and Euro Stoxx 50 down 16.85 pts or -0.35% at 4816.68.
  • Dow Jones mini down 182 pts or -0.41% at 43720, S&P 500 mini down 35.75 pts or -0.6% at 5942.25, NASDAQ mini down 179 pts or -0.85% at 20832.75.
264 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.

Despite Thursday’s gains, a bearish condition in Eurostoxx 50 futures remains intact. The move lower this week marks a resumption of the downtrend that started Sep 30. Price has breached 4746.94, 61.8% of the Aug 5 - Sep 30 bull cycle. This exposes 4662.12, the 76.4% retracement point. Initial firm resistance has been defined at 4961.00, Nov 6 high, where a break would highlight a reversal. For now, gains are considered corrective. The trend condition in S&P E-Minis remains bullish and the latest pullback is - for now - considered corrective. A key short-term support has been defined at 5724.25, the Nov 4 low. Initial supports to watch are 5911.09 and 5823.84, the 20- and 50-day EMA points respectively. Recent gains resulted in a breach of the bull trigger at 5927.25, Oct 17 high, confirming a resumption of the primary uptrend. Sights are on 6070.16, a Fibonacci projection.

  • Japan's NIKKEI closed higher by 107.21 pts or +0.28% at 38642.91 and the TOPIX ended 10.42 pts higher or +0.39% at 2711.64.
  • Elsewhere, in China the SHANGHAI closed lower by 49.113 pts or -1.45% at 3330.726 and the HANG SENG ended 9.47 pts lower or -0.05% at 19426.34.
  • Across Europe, Germany's DAX trades lower by 33.11 pts or -0.17% at 19230.1, FTSE 100 lower by 3.82 pts or -0.05% at 8067.32, CAC 40 down 8.42 pts or -0.12% at 7303.38 and Euro Stoxx 50 down 16.85 pts or -0.35% at 4816.68.
  • Dow Jones mini down 182 pts or -0.41% at 43720, S&P 500 mini down 35.75 pts or -0.6% at 5942.25, NASDAQ mini down 179 pts or -0.85% at 20832.75.