MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

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MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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Price Signal Summary - USDJPY Path Of Least Resistance Remains Down

OUTLOOK
  • In FX, EURUSD traded higher Thursday and in the process cleared Monday’s high of 1.0497. The break cancels Monday’s bearish signal - a shooting star candle pattern - and instead confirms a resumption of the current uptrend. The focus is on 1.0559, a Fibonacci projection. Key short-term support has been defined at Wednesday’s 1.0291 low.
  • GBPUSD trend conditions remain bullish and Thursday’s gains reinforce this condition - the break higher has confirmed a resumption of the uptrend and price has cleared the 200-dma. The focus is on 1.2339,1.236 projection of the Sep 26 - Oct 5 - Oct 12 price swing. Key short-term support has been defined at 1.1901, Wednesday’s low.
  • The USDJPY trend condition remains bearish and Thursday’s move lower confirmed a resumption of the downtrend. Today’s follow through reinforces the bear theme and maintains the bearish price sequence of lower lows and lower highs. Sights are on 132.56, Aug 15 low. Key short-term resistance to watch is 139.89, Wednesday’s high. Initial resistance is at today's intraday high of 135.60.
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Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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