MNI: PBOC Net Injects CNY674 Bln Via OMO Tue; Rates Unchanged

MNI China Press Digest July 16: LPR, Q2 Data, Property

MNI: PBOC Sets Yuan Parity Higher At 7.1328 Tue; -1.79% Y/Y

CHINA PBOC CONDUCTS CNY676 BILLION VIA 7-DAY REVERSE REPOS TUE

CHINA SETS YUAN CENTRAL PARITY AT 7.1328 TUE VS 7.1313

MNI BRIEF: Fed's Powell Says Neutral Rate Has Likely Risen

MNI: GERMANY JUL ZEW CURRENT CONDITIONS -68.9

MNI: GERMANY ZEW JUL ECONOMIC EXPECTATIONS 41.8

SARB Data Watch

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

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Price Signal Summary - USDJPY Pullback Considered Corrective

OUTLOOK
  • In FX, EURUSD maintains a softer tone and continues to trade below 1.0694, the Oct 24 high. The move down last week reinforces a bearish theme and suggests that the recent correction between Oct 3 - 24 is over. Note too that the Oct 24 price pattern is a bearish engulfing candle - a reversal signal. A continuation lower would open 1.0496, the Oct 13 low. The key support and bear trigger lies at 1.0448, Oct 3 low. Key short-term resistance is 1.0694.
  • GBPUSD starts the week unchanged and remains below its Oct 24 high. The trend outlook is bearish and gains are considered corrective. Attention is on 1.2037, Oct 4 low and bear trigger. A break of this level would resume the downtrend that started in July and open 1.1964, a 3.00 projection of the Jul 14 - 24 - 27 price swing. For bulls, clearance of 1.2337, Oct 11 high, would signal scope for a stronger corrective cycle and highlight a short-term base.
  • USDJPY has pulled back from last week’s 150.78 trend high on Oct 26. The move lower is considered corrective and the uptrend remains intact. Last week’s breach of 150.16, the Oct 3 high, marks a resumption of the uptrend. Moving average studies are in a bull-mode position and this reflects the market's positive sentiment. Sights are on 151.09 next, a Fibonacci projection point. Initial support to watch is 147.98, the 50-day EMA.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.