MNI China Daily Summary: Friday, May 10

MNI BRIEF: China Slowdown Tops Concerns Of European Firms

MNI: PBOC Net Injects CNY2 Bln Via OMO Fri; Rates Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1011 Fri; -4.13% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1011 FRI VS 7.1028

IP Notably Weak In March, Little Respite Ahead Per Surveys

ITALY MAR INDUSTRIAL PRODUCTION  -0.5% M/M ; -3.5% WDA Y/Y

March Activity Data Sheds Little Light On Weak Q1 Flash GDP Estimate

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

(K2) Consolidation Mode

COPPER TECHS
  • RES 4: $487.88 - 1.236 proj of the Dec 15 - Jan 12 - 31 price swing
  • RES 3: $484.00 - High May 10 2021
  • RES 2: $474.15 - High Oct 19 2021
  • RES 1: $469.95 - High Feb 10
  • PRICE: $451.75 @ 13:55 GMT Feb 28
  • SUP 1: $439.95/428.80 - Low Feb 8 / Low Jan 31
  • SUP 2: $422.70 - Low Dec 20
  • SUP 3: $411.65 - Low Dec 15 and key support
  • SUP 4: $403.45 - Low Sep 30 2021

Copper futures are unchanged and are in consolidation mode. The contract recently cleared $459.45, Jan 12 high. This confirmed a resumption of bullish activity and signals potential for a climb towards $474.15, Oct 19, 2021 high. Clearance of this level would open $484.00, May 10 2021 high. Initial firm support has been established at $439.95, the Feb 8 low. A break would threaten the current bullish theme. Pullbacks are considered corrective.

Energy BulletsCommodities
Energy BulletsCommodities

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.