MNI China Daily Summary: Monday, July 29

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MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

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CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

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Price Signal Summary - EUROSTOXX50 Futures Clear Resistance

OUTLOOK
  • In the equity space, S&P E-Minis traded higher Monday but failed to hold on to the session high. Key resistance at 3917.35, the 50-day EMA, has been breached. A continuation higher and a clear break of this EMA would suggest potential for a stronger recovery and highlight a possible reversal that would open 4000.00 next. On the downside, a break lower would confirm a resumption of the downtrend - the bear trigger is 3788.50, the Dec 22 low.
  • EUROSTOXX 50 futures traded higher Monday, extending the recent climb. The contract has cleared 4043.00, the Dec 13 high and a bull trigger. The clear breach of this hurdle represents a key short-term bullish development and paves the way for gains towards the 4100.00 handle. Initial support lies at 3912.60, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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