MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

Fed Data Watch

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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EURUSD TECHS: Bearish Price Sequence

EURUSD TECHS
  • RES 4: 1.1007 High May 10
  • RES 3: 1.0905 High May 16
  • RES 2: 1.0818 50-day EMA values
  • RES 1: 1.0772 20-day EMA
  • PRICE: 1.0708 @ 05:41 BST Jun 8
  • SUP 1: 1.0667/35 Low Jun 6 / Low May 31 and the bear trigger
  • SUP 2: 1.0608 Low Mar 17
  • SUP 3: 1.0551 Low Mar 16
  • SUP 4: 1.0516 Low Mar 15 and a key support

EURUSD reversed an intraday spike on Wednesday, reinforcing the current bearish theme. A downward sequence of lower lows and lower highs remains intact, highlighting a bear trend and price remains below 20- and 50-day EMAs. The focus is on 1.0551, the Mar 16 low. A firm resistance is seen at 1.0772, the 20-day EMA. A break of this average would ease bearish pressure and signal scope for a stronger correction.

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