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MNI: PBOC Sets Yuan Parity Lower At 7.1270 Fri; -0.95% Y/Y

CHINA PBOC CONDUCTS CNY358.05 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.1270 FRI VS 7.1321

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MNI JAPAN JULY TOKYO CORE CPI +2.2% Y/Y; JUNE +2.1%

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Gold is inching lower on the Asia-Pac..........>

GOLD
GOLD: Gold is inching lower on the Asia-Pac session extending losses from the
overnight. The precious metal slipped lower on strong reported earnings and a
stronger dollar, the market is also uncertain of the Federal Reserves next
leader. Gold was last at $1274.43.
- MNI Technical analysis sees support at $1272.5 - Low Oct 23 and resistance at
$1277.8 - Hourly resistance Oct 25. Pressure on the 100-DMA has so far failed to
produce the close below needed to see bears confirm focus on tests of
$1243.4-1260.1 where the daily bull channel base ($1247.6) and 200-DMA ($1259.0)
are noted. Bulls need a close above the 21-DMA to ease immediate bearish
pressure and above $1306.0 to pressure $1313.6-1320.0. Daily studies remain well
placed for further losses.
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