MNI China Daily Summary: Thursday, August 1

MNI: BOE VOTES 5-4 FOR 25 BPS RATE CUT AT AUG MEETING

MNI BRIEF: BOJ To Focus On Continued Positive Wage Setting

MNI BRIEF: Japan Q2 GDP To Rise 0.5% Q/Q; 2.2% Annualised

MNI BRIEF: China Retains Ample Policy Space In H2 – NDRC

MNI BRIEF: Caixin July Manufacturing PMI Falls Below 50

MNI: US Q2 PREL UNIT LABOR COSTS +0.9% VS Q1 +3.8%; Y/Y +0.5%

MNI: US JOBLESS CLAIMS +14K TO 249K IN JUL 27 WK

VDMA Factory Orders Remain Weak in June

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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Key Resistance Remains Exposed

US 10YR FUTURE TECHS
  • RES 4: 117-14+ High Aug 29 / 30 2022 (cont)
  • RES 3: 117-01+ High Mar 24 and bull trigger
  • RES 2: 116-30 High Apr 5 / 6
  • RES 1: 115-31+ High Apr 10
  • PRICE: 115-21+ @ 11:22 BST Apr 11
  • SUP 1:/115-02 20-day EMA
  • SUP 2: 114-18 Low Apr 3
  • SUP 3: 114-10+ 50-day EMA
  • SUP 4: 114-07 Low Mar 29 and 30 and key support

Treasury futures traded higher last week, touching a peak of 116-30, before retracing. A bullish theme remains intact and moving average studies are in a bull-mode position, highlighting an uptrend. Resistance at 117-01+, the Mar 24 high and a key short-term resistance, remains exposed. A break of this hurdle would strengthen bullish conditions and open 117-14+, the Aug 29/30 2022 high (cont). Key support is at 114-07, the Mar 29/30 low.

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