MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

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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Holding On To This Week’s Gains

EURGBP TECHS
  • RES 4: 0.8992 61.8% Retracement of the Sep 26 - Dec 1 bear leg
  • RES 3: 0.8980 High Sep 29
  • RES 2: 0.8907 50.0% retracement of the Sep 26 - Dec 1 bear leg
  • RES 1: 0.8847/97 High Jan 24 / 13 and the bull trigger
  • PRICE: 0.8843 @ 06:37 GMT Jan 25
  • SUP 1: 0.8796/22 Low Jan 24 / 19
  • SUP 2: 0.8691 Low Dec 19
  • SUP 3: 0.8630 76.4% retracement of the Dec 1 - Jan 13 bull cycle
  • SUP 4: 0.8593 Low Dec 15

EURGBP traded higher Tuesday and the cross is holding on to this week's gains. A continuation higher would expose resistance at 0.8897, the Jan 13 high and a bull trigger. Clearance of this level would cancel a recent bearish threat and instead resume an uptrend that started early December. Key support has been defined at 0.8722, the Jan 19 low. Clearance of this level would reinstate a bearish threat.

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