MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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EQUITY TECHS: E-MINI S&P: (Z4) Approaching The Bull Trigger 

EQUITY TECHS
EquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • RES 4: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6103.88 1.500 proj of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 proj of the Sep 6 - 17 - 18 price swing
  • RES 1: 6053.25 High Nov 11 and the bull trigger      
  • PRICE: 6035.00 @ 14:44 GMT Nov 27
  • SUP 1: 5944.60 20-day EMA      
  • SUP 2: 5862.8 50-day EMA 
  • SUP 3: 5814.75 Low Nov 6   
  • SUP 4: 5724.25 Low Nov 4 and a key support

S&P E-Minis are trading at this week’s highs and sights are on the key resistance and bull trigger at 6053.25, the Nov 11 high. A break of this hurdle would resume the uptrend and open 6070.16, a Fibonacci projection. Moving average studies remain in a bull-mode set-up and this highlights a dominant uptrend and positive market sentiment. Initial support to watch lies at 5944.60, the 20-day EMA. 

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  • RES 4: 6145.26 1.236 proj of the Aug 5 - Sep 3 - 6 price swing
  • RES 3: 6103.88 1.500 proj of the Sep 6 - 17 - 18 price swing   
  • RES 2: 6070.16 1.382 proj of the Sep 6 - 17 - 18 price swing
  • RES 1: 6053.25 High Nov 11 and the bull trigger      
  • PRICE: 6035.00 @ 14:44 GMT Nov 27
  • SUP 1: 5944.60 20-day EMA      
  • SUP 2: 5862.8 50-day EMA 
  • SUP 3: 5814.75 Low Nov 6   
  • SUP 4: 5724.25 Low Nov 4 and a key support

S&P E-Minis are trading at this week’s highs and sights are on the key resistance and bull trigger at 6053.25, the Nov 11 high. A break of this hurdle would resume the uptrend and open 6070.16, a Fibonacci projection. Moving average studies remain in a bull-mode set-up and this highlights a dominant uptrend and positive market sentiment. Initial support to watch lies at 5944.60, the 20-day EMA.