MNI: Fed: Policy Well Positioned To Respond To Risks

CANADA JUNE JOBS -1.4K VS FORECAST +20K, PRIOR +26.7K

MNI China Daily Summary: Friday, July 5

MNI BRIEF: PBOC Plans To Borrow Hundred Bln Yuan CGB - Press

MNI: PBOC Net Drains CNY48 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1289 Fri; -0.35% Y/Y

MNI: BAKER HUGHES US RIG COUNT 585; OIL RIGS 479; GAS RIGS 101

EZ/UK T-Bill Calendar: Germany, France to Issue Bills Monday

EZ/UK Bond Supply Calendar: EU/UK Syndications Due Next Week

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

TECHS: CEEMEA FX Price Signal Summary: USDRUB Reverses Course

EMERGING MARKETS
  • EURHUF traded higher yesterday however despite these gains, the cross remains heavy.
    • Price has recently cleared trendline support drawn off the Jul 31, 2020 low.
    • Furthermore, 360.35, 61.8% of the rally between Feb 2 and Mar 18 has been breached as has 358.25, the 76.4% level.
    • This opens 354.87, Feb 2 low.
    • Resistance is at 360.17, Apr 8 high.
  • EURPLN also rallied sharply yesterday
    • Monday's low of 4.5203 marks a key support and coincides with 4.5202, 76.4% of the Feb 10 - Mar 29 rally.
    • A clear breach of this support would suggest scope for a deeper pullback towards 4.50 and would open 4.4709, Feb 10 low.
    • Initial resistance is at 4.5751, Apr 8 high ahead of 4.6088, Apr 5 high.
  • USDZAR has tested recent lows. The pair maintains a bearish S/T tone following the recent move lower from 15.5726, Mar 8 high. Attention is on 14.3966, Feb 24 low. Initial resistance is at 14.8239, the 50-day EMA ahead of 15.1000, Mar 26 high.
  • USDTRY is trading lower however a bullish theme remains intact. Attention is on key resistance at 8.4704, Mar 22 high. A break of this hurdle would open 8.5793, the Nov 6 high and an important resistance. Key support is unchanged at 7.6958, Mar 22 low.
  • USDRUB reversed lower yesterday and has today traded close to support at 75.2275, Mar 31 low. Recent gains have defined a key resistance at 78.0406, Apr 7 high. This level marks the bull trigger. A breach of support at 75.2275 would signal scope for a deeper pullback.
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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.