MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI BRIEF: Size Of June Cut Still Undecided -BCB's Campos Neto

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

MNI: ITALY MAR FLASH HICP +1.2% M/M, +1.3% Y/Y

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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(M1)‌‌ Holding Above The 20-day EMA

US 10YR FUTURE TECHS
  • RES 4: 134-20 100-dma
  • RES 3: 134-06+ High Feb 25
  • RES 2: 133-23 High Mar 2
  • RES 1: 133-16+ Post-NFP High May 7
  • PRICE: 132-17 @ 11:22 BST May 12
  • SUP 1: 132-11/131-18+ 20-day EMA / Low Apr 29
  • SUP 2: 131-12 Low Apr 13 and key near-term support
  • SUP 3: 131-03+ Low Apr 6
  • SUP 4: 130-25+ Low Apr 5 and the bear trigger

US 10y futures remain below the May 7 high of 133-16+. The move higher last week and the print above the 50-day EMA does suggest scope for an extension of gains near-term. 133-16+ marks the initial resistance and a bull trigger. On the downside initial support is seen at 132-11, the 20-day EMA. A clear breach of this average would instead strengthen a bearish theme and expose support at 131-18+, Apr 29 low.

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