MNI BRIEF: Cautious Policy Adjustments Eyed - BOJ's Nakagawa

MNI: PBOC Net Injects CNY209.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1182 Weds; +2.35% Y/Y

CHINA PBOC CONDUCTS CNY210 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1182 WEDS VS 7.1136

MNI BRIEF: Brazil's August Inflation 4.24%, Monthly Deflation

MNI: UK JUL TRADE BALANCE GBP -7.51BN

MNI: UK JUL SERVICES INDEX +0.1% M/M, +0.6% 3MM

MNI: UK JUL CONSTRUCTION OUTPUT -0.4% MM, +1.2% 3M3M, -1.6% YY

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

EQUITIES: Eurostoxx 50 Futures Remain Below 20- and 50-Day EMAs

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurostoxx 50 futures traded lower last week and a bearish tone - a correction - remains intact for now. The latest move down has resulted in a break of both the 20- and 50-day EMAs. Last Friday’s sharp sell-off signals scope for an extension lower and sights are on 4686.53, a Fibonacci retracement point.  Initial key short-term resistance has been defined at 4998.00, the Sep 3 high. First resistance is at 4872.22, the 50-day EMA. Recent weakness in S&P E-Minis highlighted the start of a corrective cycle. The contract remains in a bear-mode condition, despite this week’s gains, and scope is seen for a deeper retracement near-term. An extension lower would open 5330.00, 61.8% retracement of the Aug 5 - Sep 3 bull leg. Key resistance has been defined at 5669.75, the Sep 3 high. Initial firm resistance to watch is 5535.19, the 20-day EMA.

  • Japan's NIKKEI closed lower by 539.39 pts or -1.49% at 35619.77 and the TOPIX ended 45.87 pts lower or -1.78% at 2530.67.
  • Elsewhere, in China the SHANGHAI closed lower by 22.397 pts or -0.82% at 2721.795 and the HANG SENG ended 125.38 pts lower or -0.73% at 17108.71.
  • Across Europe, Germany's DAX trades higher by 56.02 pts or +0.31% at 18322.1, FTSE 100 lower by 11.3 pts or -0.14% at 8194.81, CAC 40 up 13.51 pts or +0.18% at 7421.06 and Euro Stoxx 50 up 22.19 pts or +0.47% at 4769.39.
  • Dow Jones mini down 161 pts or -0.39% at 40639, S&P 500 mini down 19.5 pts or -0.35% at 5484.75, NASDAQ mini down 80.5 pts or -0.43% at 18783.
261 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 traded lower last week and a bearish tone - a correction - remains intact for now. The latest move down has resulted in a break of both the 20- and 50-day EMAs. Last Friday’s sharp sell-off signals scope for an extension lower and sights are on 4686.53, a Fibonacci retracement point.  Initial key short-term resistance has been defined at 4998.00, the Sep 3 high. First resistance is at 4872.22, the 50-day EMA. Recent weakness in S&P E-Minis highlighted the start of a corrective cycle. The contract remains in a bear-mode condition, despite this week’s gains, and scope is seen for a deeper retracement near-term. An extension lower would open 5330.00, 61.8% retracement of the Aug 5 - Sep 3 bull leg. Key resistance has been defined at 5669.75, the Sep 3 high. Initial firm resistance to watch is 5535.19, the 20-day EMA.

  • Japan's NIKKEI closed lower by 539.39 pts or -1.49% at 35619.77 and the TOPIX ended 45.87 pts lower or -1.78% at 2530.67.
  • Elsewhere, in China the SHANGHAI closed lower by 22.397 pts or -0.82% at 2721.795 and the HANG SENG ended 125.38 pts lower or -0.73% at 17108.71.
  • Across Europe, Germany's DAX trades higher by 56.02 pts or +0.31% at 18322.1, FTSE 100 lower by 11.3 pts or -0.14% at 8194.81, CAC 40 up 13.51 pts or +0.18% at 7421.06 and Euro Stoxx 50 up 22.19 pts or +0.47% at 4769.39.
  • Dow Jones mini down 161 pts or -0.39% at 40639, S&P 500 mini down 19.5 pts or -0.35% at 5484.75, NASDAQ mini down 80.5 pts or -0.43% at 18783.