MNI BRIEF: Japan Govt Keeps Econ View, Cuts Exports

MNI: PBOC Conducts CNY200 Bln via MLF Thurs; Rate Cut

MNI: PBOC Sets Yuan Parity Lower At 7.1321 Thurs; -1.92% Y/Y

CHINA PBOC CONDUCTS CNY235.1 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1321 THURS VS 7.1358

MNI China Daily Summary: Wednesday, July 24

MNI: JAPAN JUNE SERVICES PPI +3.0% Y/Y; MAY REV +2.7%

MNI BRIEF: Japan June Services PPI Rises 3.0% Vs. May's 2.7%

US Treasury Auction Calendar

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - GBPUSD Recovery Extends

OUTLOOK
  • In FX, the EURUSD traded higher Thursday. For now, short-term gains are considered corrective and the downtrend remains intact. Fresh trend lows this week reinforce bearish conditions. The 1.0653 objective has been breached, 76.4% of the Mar 15 - Apr 26 rally and this opens 1.0551, the Mar 16 low. A firm resistance is seen at 1.0807, the 20-day EMA. Clearance of this average is required to ease recent bearish pressure.
  • The current bull cycle in GBPUSD remains in play and the pair traded higher Thursday. This week’s recovery has resulted in a move above the 20- and 50-day EMAs. The break signals potential for a continuation higher and the focus is on 1.2547, the May 16 high and 1.2592, 76.4% of the May 10 - 25 bear cycle. On the downside, a break of Thursday’s 1.2401 low is required to signal a potential top.
  • USDJPY bullish conditions remain intact and the latest pullback is considered corrective. Recent highs resulted in a test of the top of a bull channel, drawn from the Jan 16 low which intersects at 140.96 and represents a key resistance. A clear break of it would reinforce bullish conditions and open 141.61, the Nov 23 2022 high. For bears, a stronger reversal lower would highlight a potential top. Key support to watch is 138.02, the 20-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.