MNI: PBOC Sets Yuan Parity Lower At 7.1228 Thurs; +2.24% Y/Y

MNI: PBOC Net Drains CNY218.4 Bln via OMO Thursday

CHINA PBOC CONDUCTS CNY359.3 BILLION VIA 7-DAY REVERSE REPOS THURS

CHINA SETS YUAN CENTRAL PARITY AT 7.1228 THURS VS 7.1307

MNI BRIEF: BOK Holds Rate, Downgrades GDP, CPI View

MNI: PBOC Net Drains CNY111.2 Bln via OMO Wednesday

Preliminary August PMIs Improve, But Manufacturing Still Sub 50.0

Local Investors Purchases Of Offshore Bonds Surge In Recent Weeks

EZ/UK Bond Supply Calendar: EFSF RfP Sent, EU-Bonds Due Monday

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

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Price Signal Summary - Gold Remains In Retracement Mode

OUTLOOK
  • On the commodity front, last week’s early gains in Gold reinforce the primary bullish condition. The yellow metal traded to a fresh all-time high of $2135.4 and this signals potential for a climb towards $2177.6 next, a 1.236 projection of the Oct 6 - 27 - Nov 13 price swing. The latest pullback is considered corrective and is allowing an overbought trend condition to unwind. The next support to watch is $1978.2, the 50-day EMA. Initial resistance is at $2041.30, the Dec 5 high.
  • In the oil space, bearish conditions in WTI futures remain intact and last Wednesday’s sell-off reinforced this condition. The contract has cleared support at $72.37, the Nov 16 low. The break lower confirms a resumption of the downtrend and note too that moving average studies are in a bear-mode position, highlighting a clear downtrend. Sights are on $67.28 next, the Jun 23 low. Resistance is seen at $74.79, the 20-day EMA. The latest recovery is considered corrective.
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