MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

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

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MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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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(M4) Trend Needle Points South

US 10YR FUTURE TECHS
Fixed Income Technical AnalysisHomepagemarkets-real-timeBond Market NewsBulletMarketsFixed Income Bullets
  • RES 4: 109-27+ 50-day EMA
  • RES 3: 109-26+ High Apr 10
  • RES 2: 108-28+ 20-day EMA
  • RES 1: 108-22+ High Apr 19
  • PRICE: 108-04 @ 17:16 BST Apr 23
  • SUP 1: 107-13+ Low Apr 16
  • SUP 2: 107-07+ 76.4% of the Oct - Dec ‘23 bull leg (cont)
  • SUP 3: 106-27 2.764 proj of Dec 27 - Jan 19 - Feb 1 price swing
  • SUP 4: 106-08 3.00 proj of Dec 27 - Jan 19 - Feb 1 price swing

Treasuries rallied Tuesday on the back of a poor set of US PMI numbers. Nonetheless, the trend outlook is unchanged and a bear cycle remains in play. Last week’s move lower reinforces current conditions and the move down has resumed this year’s bear trend. Moving average studies remain in a bear-mode set-up too, highlighting a clear downtrend. Sights are on 107.07+ next, a Fibonacci retracement. Firm resistance is 108-28+, the 20-day EMA.

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  • RES 4: 109-27+ 50-day EMA
  • RES 3: 109-26+ High Apr 10
  • RES 2: 108-28+ 20-day EMA
  • RES 1: 108-22+ High Apr 19
  • PRICE: 108-04 @ 17:16 BST Apr 23
  • SUP 1: 107-13+ Low Apr 16
  • SUP 2: 107-07+ 76.4% of the Oct - Dec ‘23 bull leg (cont)
  • SUP 3: 106-27 2.764 proj of Dec 27 - Jan 19 - Feb 1 price swing
  • SUP 4: 106-08 3.00 proj of Dec 27 - Jan 19 - Feb 1 price swing

Treasuries rallied Tuesday on the back of a poor set of US PMI numbers. Nonetheless, the trend outlook is unchanged and a bear cycle remains in play. Last week’s move lower reinforces current conditions and the move down has resumed this year’s bear trend. Moving average studies remain in a bear-mode set-up too, highlighting a clear downtrend. Sights are on 107.07+ next, a Fibonacci retracement. Firm resistance is 108-28+, the 20-day EMA.