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 BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

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

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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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(K1) Key Resistance Exposed

SOY TECHS
  • RES 4: $1514.44 - 2.236 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 3: $1475.00 - 2.00 proj of Oct 29 - Nov 25 rally from Dec 2 low
  • RES 2: $1460.00 - High Mar 8 and the bull trigger
  • RES 1: $1456.25 - Intraday high
  • PRICE: $1436.75 @ 13:44 GMT Apr 1
  • SUP 1: $1364.25 - Low Mar 30 and key near-term support
  • SUP 2: $1336.75 - Low Feb 11
  • SUP 3: $1297.00 - Low Feb 25
  • SUP 4: $1244.00 - Low Dec 29

Soybean futures rallied yesterday. The recovery defines a key short-term support at $1364.25, Mar 30 low and means the 50-day EMA area of support has also remained intact - the MA was probed Tuesday. Attention turns to $1460.00, MAr 8 high where a break would confirm a resumption of the underlying uptrend. This would open $1475.00, a Fibonacci projection. On the downside, sub $1364.25 levels would signal scope for a S/T correction.

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