MNI China Daily Summary: Monday, October 28

RPT-MNI INTERVIEW2: Trump Stagflationary For EZ-ECB's Wunsch

MNI BRIEF: PBOC Launches Outright Reverse Repo For Liquidity

MNI: PBOC Net Injects CNY32.7 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1307 Mon; +2.71% Y/Y

CHINA PBOC CONDUCTS CNY241.6 BLN VIA 7-DAY REVERSE REPOS MON

MNI: UK CBI OCT DIST TRADE REPORTED SALES -6

EZ/UK Bond Supply Calendar: UK, Germany Auction on Tuesday

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL OCT INDEX 70.5

EUROPEAN FISCAL: DE 2025 Budget Gap Grows; Political Risk Is Rising

CANADA: Politics Week: Trudeau Facing More Internal Dissent And Departures

CANADA: Politics Week: Trudeau Faces More Pressure To Resign

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

EQUITIES: Short-Term Weakness in E-Mini S&P Considered Corrective

EQUITIES
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

Eurostoxx 50 futures are in consolidation mode and continue to trade closer to their recent lows. For now, a bear threat is present. The contract traded sharply lower on Oct 15 and pierced the 50-day EMA, at 4948.02. A clear break of this average would undermine a recent bullish theme and highlight a stronger reversal. This would open 4884.06, a Fibonacci retracement. Key resistance and the bull trigger is 5106.00, the Sep 30 high. S&P E-Minis continues to trade below its recent highs. Short-term weakness is considered corrective and the uptrend remains intact. Price has recently traded through support at the 20-day EMA, at 5854.44, but is - for now - trading above this average. A clear bearish break of the EMA would open 5753.57, the 50-day EMA. A stronger resumption of gains would refocus attention on 5961.00, a Fibonacci projection. 

  • Japan's NIKKEI closed higher by 691.61 pts or +1.82% at 38605.53 and the TOPIX ended 39.46 pts higher or +1.51% at 2657.78.
  • Elsewhere, in China the SHANGHAI closed higher by 22.498 pts or +0.68% at 3322.198 and the HANG SENG ended 9.21 pts higher or +0.04% at 20599.36.
  • Across Europe, Germany's DAX trades higher by 64.62 pts or +0.33% at 19527.72, FTSE 100 higher by 8.23 pts or +0.1% at 8257.53, CAC 40 up 66.68 pts or +0.89% at 7563.26 and Euro Stoxx 50 up 31.47 pts or +0.64% at 4974.04.
  • Dow Jones mini up 213 pts or +0.5% at 42530, S&P 500 mini up 35.75 pts or +0.61% at 5882, NASDAQ mini up 161.5 pts or +0.79% at 20661.
258 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 in consolidation mode and continue to trade closer to their recent lows. For now, a bear threat is present. The contract traded sharply lower on Oct 15 and pierced the 50-day EMA, at 4948.02. A clear break of this average would undermine a recent bullish theme and highlight a stronger reversal. This would open 4884.06, a Fibonacci retracement. Key resistance and the bull trigger is 5106.00, the Sep 30 high. S&P E-Minis continues to trade below its recent highs. Short-term weakness is considered corrective and the uptrend remains intact. Price has recently traded through support at the 20-day EMA, at 5854.44, but is - for now - trading above this average. A clear bearish break of the EMA would open 5753.57, the 50-day EMA. A stronger resumption of gains would refocus attention on 5961.00, a Fibonacci projection. 

  • Japan's NIKKEI closed higher by 691.61 pts or +1.82% at 38605.53 and the TOPIX ended 39.46 pts higher or +1.51% at 2657.78.
  • Elsewhere, in China the SHANGHAI closed higher by 22.498 pts or +0.68% at 3322.198 and the HANG SENG ended 9.21 pts higher or +0.04% at 20599.36.
  • Across Europe, Germany's DAX trades higher by 64.62 pts or +0.33% at 19527.72, FTSE 100 higher by 8.23 pts or +0.1% at 8257.53, CAC 40 up 66.68 pts or +0.89% at 7563.26 and Euro Stoxx 50 up 31.47 pts or +0.64% at 4974.04.
  • Dow Jones mini up 213 pts or +0.5% at 42530, S&P 500 mini up 35.75 pts or +0.61% at 5882, NASDAQ mini up 161.5 pts or +0.79% at 20661.