MNI China Press Digest July 2: PBOC, FDI, Land Revenue

MNI: PBOC Net Drains CNY298 Bln Via OMO Tues; Rates Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS TUES

MNI: PBOC Sets Yuan Parity Higher At 7.1291 Tues; -0.09% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1291 TUES VS 7.1265

MNI China Daily Summary: Monday, July 1

June CPI Below Market Expectations, Headline Y/Y At 2.4%

MNI: UK JUN BRC SHOP PRICES -0.2% M/M, +0.2% Y/Y

Multivariate Core Trend Inflation Falls To Post-2020 Low

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

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Price Signal Summary - S&P E-Minis Remains Below Resistance

OUTLOOK
  • In the equity space, a bearish theme in the E-mini S&P contract remains intact and this week’s recovery appears to be a correction. Last week’s price action reinforced a bearish theme. The move lower resulted in a break of the 50-day EMA and a breach of channel support drawn from the Mar 13 low. The Jun 26 low of 4368.50, was breached last Friday and attention is on 4344.28,38.2% of the Mar 13 - Jul 27 bull cycle. Initial firm resistance is at 4452.08, the 50-day EMA.
  • A bearish theme in EUROSTOXX 50 futures remains present and the latest recovery appears to be a correction. The contract has recently breached support at 4276.00, the Aug 8 and 15 low and cleared 4220.00, the Jul 7 low. This opens 4177.40, 61.8% of the Mar 20 - Jul 31 bull leg. Initial firm resistance is 4341.10, the 50-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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