MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

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

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

CBI Retail Sales Fell Faster Than Expected For The Second Month

MNI: UK CBI JUL DIST TRADE REPORTED SALES -43

MNI: UK BOE JUN MORTGAGE APPROVALS 59,976

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

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TECHS: CEEMEA FX Price Signal Summary

EMERGING MARKETS
  • EURPLN has edged higher this week but is finding resistance at the 4.5500 level. The near-term outlook remains bearish and recent gains are considered corrective.
    • Key support is at 4.4946, Jan 7 low and a bear trigger.
    • The resistance to watch is at 4.5581, 50.0% of the downleg between Dec 31 - Jan 7.
  • EURHUF is unchanged with resistance located at 362.11, Jan 1 high. A break would signal scope for a stronger rally. Tuesday's price pattern is a bearish engulfing candle. If correct, this suggests scope for retest of last week's 356.53 low on Jan 7.
  • USDZAR has traded lower this week. The key resistance to look out for is located at 15.8863, the top of a bear channel drawn off the Apr 24 high. While this channel remains intact, gains are considered a correction. Initial support lies at 14.9990, yesterday's low.
  • USDTRY gains have stalled at the 20-day EMA this week. A clear breach of the average would open 7.6197, the 50-day EMA.
    • A key pivot support lies at 7.2406, Jan 7 low and is close to the May 2020 high and the Aug 2013 high. A break of 7.2406 would resume the downtrend.
  • The near-term USDRUB directional triggers remain 73.0665, Jan 4 low and 75.2785, Jan 5 high.
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