MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

MNI BRIEF: China Politburo Flags Policy Support; 3rd Plenum In July

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI BRIEF: Caixin Apr Manufacturing PMI Hits Over One-year High

MNI BRIEF: China April Mfg. PMI Moderates To 50.4

Strong Q1 GDP Print Consistent With Survey Outperformance

GDP Bounces On Construction / Exports; Weaker End-2023 On Revisions

MNI: ITALY APR FLASH HICP +0.6% M/M, +1% Y/Y

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

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

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

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Failure To Clear Trendline Resistance Weighs

AUSSIE TECHS
  • RES 4: 0.7258 61.8% retracement September Sell-Off
  • RES 3: 0.7243 High Oct 10 and the intraday bull trigger
  • RES 2: 0.7207 Trendline resistance drawn off the Sep 1 high
  • RES 1: 0.7170 High Oct 15
  • PRICE: 0.7090 @ 18:27 BST Oct 15
  • SUP 1: 0.7056 Intraday low
  • SUP 2: 0.7029 Low Sep 28
  • SUP 3: 0.7006 Low Sep 25 and the bear trigger
  • SUP 4: 0.6965 23.6% retracement of the Mar - Sep rally

AUDUSD traded sharply lower Thursday. On Oct 9, the pair cleared resistance at 0.7209, Oct 1 and 6 high resulting in a test of trendline resistance drawn off the Sep 1 high. The line intersects at 0.7207 today. A failure to clear the trendline is weighing and, with support at 0.7096, Oct 7 low cleared, the scene is set for a deeper pullback. Attention turns to the primary support and bear trigger at 0.7006, Sep 25 low. 0.7170 is resistance.

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