MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1728 Thurs; -0.64% Y/Y

MNI: EUROZONE JAN IP +0.8% M/M, +0% Y/Y

MNI: SWEDEN FINAL FEB CPIF +2.9% Y/Y

MNI: US FEB TREASURY BUDGET -$307.0B

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

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BOBL TECHS: (H5) Pullback Extends

BOBL TECHS
Fixed Income Technical AnalysisBundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income Bullets
  • RES 4: 118.310 High Dec 20          
  • RES 3: 118.27 61.8% retracement of the Dec 2 - Jan 14 bear leg    
  • RES 2: 118.100 High Jan 2   
  • RES 1: 117.578/980 50-day EMA / High Feb 3 / 5                              
  • PRICE: 117.310 @ 06:03 GMT Feb 13  
  • SUP 1: 117.190 Low Feb 12                  
  • SUP 2: 116.952 Trendline drawn from Jan 15 low
  • SUP 3: 116.550 Low Jan 24  
  • SUP 4: 116.280 Low Jan 14 / 15 and  key support       

Bobl futures remain in a short-term bull cycle despite this week’s pullback. However, the contract has traded through support at the 20-day EMA - at 117.412. A continuation lower would expose a trendline support, drawn from the Jan 15 low, at 116.952. Clearance of the trendline would strengthen a bearish threat. The bull trigger has been defined at 117.980, the Feb 3 / 5 high. A breach of this level resumes the recent uptrend.

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  • RES 4: 118.310 High Dec 20          
  • RES 3: 118.27 61.8% retracement of the Dec 2 - Jan 14 bear leg    
  • RES 2: 118.100 High Jan 2   
  • RES 1: 117.578/980 50-day EMA / High Feb 3 / 5                              
  • PRICE: 117.310 @ 06:03 GMT Feb 13  
  • SUP 1: 117.190 Low Feb 12                  
  • SUP 2: 116.952 Trendline drawn from Jan 15 low
  • SUP 3: 116.550 Low Jan 24  
  • SUP 4: 116.280 Low Jan 14 / 15 and  key support       

Bobl futures remain in a short-term bull cycle despite this week’s pullback. However, the contract has traded through support at the 20-day EMA - at 117.412. A continuation lower would expose a trendline support, drawn from the Jan 15 low, at 116.952. Clearance of the trendline would strengthen a bearish threat. The bull trigger has been defined at 117.980, the Feb 3 / 5 high. A breach of this level resumes the recent uptrend.