MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

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 Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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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TECHS: All Eyes On Trendline Support

EURO-AUSSIE

Last week we highlighted a range breakout in EURAUD that suggested scope for a move towards the range breakout projection of 1.7000.

  • On Oct 19, a rally confirmed a breakout of a range the cross had traded within since mid-June.
  • Price subsequently rallied to a high of 1.6828 on Oct 20. A corrective phase has since dominated.
  • A trendline support drawn off the 1.6126 low on Sep 17 intersects at 1.6472 and marks a key support - the trendline held Wednesday resulting in a strong bounce.
  • On the upside, look for a break of 1.6687, Oct 29 to signal a resumption of gains and refocus attention on 1.6828 ahead of 1.7000.
  • A clear trendline break would alter the picture
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