CHINA PBOC INJECTS CNY43 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1049 THURS VS 7.1039

MNI BRIEF: Japan Q4 GDP To Rise 0.3% Q/Q; 1.4% Annualised

MNI: AUSTRALIA DEC BUILDING APPROVALS -9.5% M/M, -24% Y/Y

MNI: AUSTRALIA DEC DWELLING APPROVALS -9.5% M/M

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

MNI BRIEF: Canada Needs CAD1 Trln To Fix Housing Squeeze- CMHC

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

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CHINA PBOC INJECTS CNY43 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1049 THURS VS 7.1039

MNI BRIEF: Japan Q4 GDP To Rise 0.3% Q/Q; 1.4% Annualised

MNI: AUSTRALIA DEC BUILDING APPROVALS -9.5% M/M, -24% Y/Y

MNI: AUSTRALIA DEC DWELLING APPROVALS -9.5% M/M

MNI BRIEF: Stabilizing Prices Helps BOC Turn Neutral-Freeland

MNI BRIEF: Canada Needs CAD1 Trln To Fix Housing Squeeze- CMHC

MNI BRIEF: Canada Shows No Progress Closing Housing Shortfall

(M3) Short-Term Trend Needle Points North

SCHATZ TECHS
  • RES 4: 106.060 50.0% retracement of the Mar 20 - Apr 19 bear leg
  • RES 3: 106.000 Round number resistance
  • RES 2: 105.849 38.2% retracement of the Mar 20 - Apr 19 bear leg
  • RES 1: 105.720 High Apr 26
  • PRICE: 105.560 @ 05:43 BST May 2
  • SUP 1: 105.350 Low Apr 28
  • SUP 2: 105.165 Low Apr 19 / 24 and bear trigger
  • SUP 3: 105.030 Low Mar 15
  • SUP 4: 104.953 76.4% retracement of the Mar 9 - 20 rally

A recovery in Schatz futures last week saw price trade above the 20-day EMA which intersects at 105.538 today. A continuation higher would allow for a recovery towards 105.849, a Fibonacci retracement point and potentially highlight a stronger reversal set-up. On the downside, key support has been defined at 105.165, the Apr 24 / 19 low. This level is the bear trigger where a break would resume the recent downtrend.

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