MNI BRIEF: Tighter BTPs Lowers 17.1Bln In Debt Burden- Gov't

MNI China Daily Summary: Friday, December 20

MNI: PBOC Net Drains CNY103.5 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1901 Fri; -2.13% Y/Y

MNI BRIEF: China's LPR Holds Steady In Dec

MNI: BANXICO CUTS RATES BY 25BPS TO 10.0% AS EXPECTED

MNI: UK CBI DEC DIST TRADE REPORTED SALES -15

MNI: FRANCE NOV PPI +3.2% M/M, -5.2% Y/Y

MNI: GERMANY NOV PRODUCER PRICES +0.1% Y/Y

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 Continues to Trade Above Bull Trigger

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurostoxx 50 futures are volatile. A bearish condition remains intact and yesterday’s sell-off reinforces current conditions. The contract has traded to a fresh cycle low and pierced 4815.50, the 50.0% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4757.00, the Sep 6 / 10 low and a key support. Initial firm resistance has been defined at 5015.00, the Oct 29 high, where a break would highlight a reversal. Bullish conditions in S&P E-Minis remain intact. A key short-term support has been defined at 5724.25, Nov 4 low. Price is trading above both the 20- and 50-day EMAs and this week’s gains have resulted in a breach of the bull trigger at 5927.25, Oct 17 high. Clearance of this level confirms a resumption of the primary uptrend and opens the 6000.0 psychological handle. A breach of 5724.25, the Nov 4 low is required to reinstate a bearish threat.

  • Japan's NIKKEI closed lower by 99.26 pts or -0.25% at 39381.41 and the TOPIX ended 27.16 pts higher or +1% at 2743.08.
  • Elsewhere, in China the SHANGHAI closed higher by 86.855 pts or +2.57% at 3470.661 and the HANG SENG ended 414.96 pts higher or +2.02% at 20953.34.
  • Across Europe, Germany's DAX trades higher by 242.95 pts or +1.28% at 19282.24, FTSE 100 higher by 10.88 pts or +0.13% at 8177.74, CAC 40 up 49.87 pts or +0.68% at 7419.48 and Euro Stoxx 50 up 42.73 pts or +0.89% at 4843.36.
  • Dow Jones mini up 63 pts or +0.14% at 43964, S&P 500 mini up 10 pts or +0.17% at 5968.75, NASDAQ mini up 48 pts or +0.23% at 20943.25.
267 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 are volatile. A bearish condition remains intact and yesterday’s sell-off reinforces current conditions. The contract has traded to a fresh cycle low and pierced 4815.50, the 50.0% retracement of the Aug 5 - Sep 30 bull cycle. This exposes 4757.00, the Sep 6 / 10 low and a key support. Initial firm resistance has been defined at 5015.00, the Oct 29 high, where a break would highlight a reversal. Bullish conditions in S&P E-Minis remain intact. A key short-term support has been defined at 5724.25, Nov 4 low. Price is trading above both the 20- and 50-day EMAs and this week’s gains have resulted in a breach of the bull trigger at 5927.25, Oct 17 high. Clearance of this level confirms a resumption of the primary uptrend and opens the 6000.0 psychological handle. A breach of 5724.25, the Nov 4 low is required to reinstate a bearish threat.

  • Japan's NIKKEI closed lower by 99.26 pts or -0.25% at 39381.41 and the TOPIX ended 27.16 pts higher or +1% at 2743.08.
  • Elsewhere, in China the SHANGHAI closed higher by 86.855 pts or +2.57% at 3470.661 and the HANG SENG ended 414.96 pts higher or +2.02% at 20953.34.
  • Across Europe, Germany's DAX trades higher by 242.95 pts or +1.28% at 19282.24, FTSE 100 higher by 10.88 pts or +0.13% at 8177.74, CAC 40 up 49.87 pts or +0.68% at 7419.48 and Euro Stoxx 50 up 42.73 pts or +0.89% at 4843.36.
  • Dow Jones mini up 63 pts or +0.14% at 43964, S&P 500 mini up 10 pts or +0.17% at 5968.75, NASDAQ mini up 48 pts or +0.23% at 20943.25.