MNI EM China Daily Summary: Monday, March 25

MNI BRIEF: China Expands Austrian Pork Import Scope

MNI BRIEF: China To Boost Consumption With Lower Mortgage Rate

MNI: PBOC Injects Net CNY40 Bln Via OMO Mon; Rates Unchanged

CHINA PBOC INJECTS CNY50 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.0996 Mon; -5.53% Y/Y

New Home Sales Steady, As Market Continues To Loosen

MNI: US FEB NEW HOME SALES -0.3% TO 0.662M SAAR

Week Ahead

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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EUR/NOK Through Key Support

NOK
  • EUR's gas inspired downtick has now put EURNOK through the 10.00 level for the first time since early May, with resilient oil prices also adding a headwind for the cross.
  • Latest leg lower puts EUR/NOK through both 200- and 100-dma support (10.0099 and 10.0132 respectively) and opens 9.987 - the 50% retracement for the April - Jun upleg.
  • The RSI is beginning to show signs of an oversold condition in the cross, dropping to touch 30 for the first time since late March (which was followed by a bottoming out in EUR/NOK and a subsequent rally).
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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