MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

NBH Data Watch

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

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

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Price Signal Summary - Bund Trend Needle Points North

OUTLOOK
  • In the FI space, Bund futures maintain a bullish tone despite the latest pullback. Price has traded above the 50-day EMA at 139.93. A clear breach of this average would threaten the recent bearish theme and highlight a stronger short-term reversal. This would open 142.87, the Oct 4 high. The 20-day EMA marks initial support - it intersects at 138.64.
  • Gilt futures remain in a short-term uptrend and the contract traded higher Thursday, extending the current bull cycle. Pullbacks are considered corrective. The recent break of 104.39, Oct 27 high, confirmed a bull flag formation on the daily chart, reinforcing bullish conditions. This has opened 108.59, a Fibonacci retracement on the continuation chart. Initial firm support lies at 102.74, the 50-day EMA.
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