MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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GILT TECHS: (H5) Short-Term Bear Cycle Extends

GILT TECHS
Fixed Income Technical AnalysisCEEMEABulletUKMarketsFixed Income Bullets
  • RES 4: 96.83 2.618 proj of the Nov 18 - 19 - 20 price swing   
  • RES 3: 96.67 2.500 proj of the Nov 18 - 19 - 20 price swing   
  • RES 2: 96.18/54 High Dec 5 / 3 
  • RES 1: 95.73 High Dec 10               
  • PRICE: 94.97 @ Close Dec 12
  • SUP 1: 94.66 Low Nov 25                      
  • SUP 2: 93.96 Low Nov 22
  • SUP 3: 93.40 Low Nov 18 and a key short-term support
  • SUP 4: 93.00 Round number support 

Gilt futures have traded lower this week, resulting in a move through support at 95.49, the Dec 4 low, and 95.17, the Nov 28 low. A continuation down would expose key support at 93.40, the Nov 18 low. A breach of this support would be a bearish development and highlight a reversal. Key resistance and the bull trigger is 96.54, the Dec 3 high. Clearance of this level would confirm a resumption of the recent uptrend.

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  • RES 4: 96.83 2.618 proj of the Nov 18 - 19 - 20 price swing   
  • RES 3: 96.67 2.500 proj of the Nov 18 - 19 - 20 price swing   
  • RES 2: 96.18/54 High Dec 5 / 3 
  • RES 1: 95.73 High Dec 10               
  • PRICE: 94.97 @ Close Dec 12
  • SUP 1: 94.66 Low Nov 25                      
  • SUP 2: 93.96 Low Nov 22
  • SUP 3: 93.40 Low Nov 18 and a key short-term support
  • SUP 4: 93.00 Round number support 

Gilt futures have traded lower this week, resulting in a move through support at 95.49, the Dec 4 low, and 95.17, the Nov 28 low. A continuation down would expose key support at 93.40, the Nov 18 low. A breach of this support would be a bearish development and highlight a reversal. Key resistance and the bull trigger is 96.54, the Dec 3 high. Clearance of this level would confirm a resumption of the recent uptrend.