MNI China Daily Summary: Thursday, April 22

MNI BRIEF: China To Quicken Resolving Local Debt Risks

RPT-MNI INTERVIEW: ECB's Wunsch Sees At Least Two Cuts By Dec

MNI BRIEF: Brazil CenBank Faces Greater Uncertainty - Campos

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

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

EZ/UK T-Bill Calendar: 3/6-Month ATB Auction on Tuesday

EZ/UK Bond Supply Calendar: EU, FI Synds; IT, DE Auctions Tues

MNI: CANADA MAR INDUSTRIAL PRICES +0.8% MOM; EX-ENERGY +0.8%

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: CEEMEA FX Price Signal Summary: USDZAR Needle Still Points North

EMERGING MARKETS
  • EURHUF is consolidating but maintains a bullish tone. The cross has recently cleared key resistance at 360.02, 61.8% of the Mar - Jun downleg, cementing the uptrend. This opens 360.78, May 4 high and 363.53, the 76.4% retracement. Support lies at 354.73, Jul 9 low.
  • EURPLN is consolidating but retains a bullish theme. The cross has recently breached former resistance at 4.5642, Jun 18 high. This confirmed a resumption of the uptrend that started Jun 7 and opens 4.6000 (tested this week) and 4.6224, 76.4% of the Mar 29 - Jun 7 downleg. Firm support is seen at 4.5309, Jul 15 low.
  • The USDZAR outlook remains bullish. The pair recently breached 14.5180, the Jul 2 high confirming a resumption of bullish conditions and attention is on 15.0000 and 15.0627, 76.4% of the Mar 8 - Jun 7 sell-off. Key short-term support has been defined at 14.1670, Jul 6 low.
  • USDTRY remains below recent best levels. Trend conditions however are bullish with the focus on 8.8008, Jun 2 high. A break would open 8.9657, 2.00 projection of the Feb 16 - Mar 9 - Mar 19 price swing. Key support is at 8.2860, Jun 11 low. Price has tested the 50-day EMA. A clear breach would signal scope for a deeper pullback ahead of 8.2860.
  • USDRUB short-term trend signals are bullish. Recent gains resulted in the break of the 50-day EMA and a number of retracement levels. This highlights a bullish theme and opens 75.5628, 61.8% of the Apr 7 - Jun 11 sell-off. The Jul 6 low of 73.1595 marks support.
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EM BulletHomepagemarkets-real-timeBulletEmerging Market News

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