MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

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

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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Price Signal Summary - Gold Continues To Climb

MARKET INSIGHT
  • In the FX space, EURUSD remains below the 20-day EMA. Initial short-term resistance is at Friday's high of 1.1805. Recent gains are considered corrective and the outlook remains bearish. USDJPY has found support but remains vulnerable. Attention is on the key support at 108.72, the Aug 4 low. Key resistance is at 110.80, Aug 11 high. EURJPY has probed 128.60, the Jul 20 low. A clear break of this level would confirm a resumption of the current downtrend and signal scope for weakness towards 128.29, Mar 24 low and 127.88, 38.2% retracement of the Oct '20 - Jun rally
  • On the commodity front, Gold continues to climb and is approaching its next firm resistance at $1798.7, the 50-day EMA. WTI futures key support lies at $65.01, Jul 20 low. This level represents a key pivot point.
  • On the equity front, S&P E-minis outlook remains bullish as evidence of dip buying continues to deliver fresh all-time highs. The focus is on 4481.75, 1.00 projection of the Jun 21 - Jul 14 - 19 price swing. EUROSTOXX 50 futures are lower this morning but remain in a clear uptrend. The focus is on the 4262.07 2.0% 10-dma envelope. First support is at 4409.45, the 20-day EMA
  • In FI, support to watch in Bunds is at 176.21, the Aug 11 low. Trend conditions remain bullish. Gilt futures outlook is bullish too and attention is on 130.72, Aug 4 high and the bull trigger. The support to watch is 129.10, Jul 22 low.
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Fixed Income Technical AnalysisForeign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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