MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

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

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

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

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Price Signal Summary - S&P Trend Needle Points North

OUTLOOK
  • In the equity space, S&P E-Minis are in a consolidation mode but the trend condition is bullish following recent gains. Resistance at 4244.00, the Feb 2 high and a bull trigger, has recently been cleared. The break confirms a resumption of the uptrend that started in October 2022. The focus is on 4327.50 next, the Aug 16 2022 high (cont). Initial support is at 4209.46, the 20-day EMA.
  • EUROSTOXX 50 futures continue to trade above 4216.00, the May 31 low and a key support. For now, the recent move higher appears to be a correction. Price action last week reinforced a bearish theme - support at 4252.00, the May 25 low, has been breached. The contract has also pierced support at 4233.00, the May 4 low and a key short-term level. Resistance to watch is 4362.00, May 29 high, a break would be a bullish development.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange Bullets

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