MNI: China CFETS Yuan Index Down 0.28% In Week of Jul 5

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

MNI: PBOC Sets Yuan Parity Lower At 7.1286 Mon; -0.29% Y/Y

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

CHINA SETS YUAN CENTRAL PARITY AT 7.1286 MON VS 7.1289

MNI China Daily Summary: Friday, July 5

Australia May Housing New Loan Commitment -1.7%

MNI BRIEF: Japan May Negative Real Wage Widens to -1.4%

Headline Earning Misses, But Details Stronger

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

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

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TECHS: Price Signal Summary - Key EURUSD Directional Triggers Defined

MARKET INSIGHT
  • In the equity space, E-mini S&P remain vulnerable following last week's selling pressure from 3978.50, Mar 18 high. The support to watch today is 3875.00, Friday's low. A break would confirm a breach of the 20-day EMA and reinforce short-term bearish conditions.
  • In the FX space:
    • The key directional trigger in EURUSD this week are:
      • Key support at 1.1836, Mar 9 low
      • Resistance and the bull trigger at 1.1990, Mar 11 high
    • USDJPY remains in an uptrend. Attention is on 109.56, 76.4% of the Mar 2020 - Jan downleg and an important pivot resistance. Support lies at 108.34 Mar 10 low.
  • On the commodity front, a bullish theme in Gold remains in place following the recovery that started Mar 8. The focus is on $1783.2, the 50-day EMA. Support is at $1719.3, Mar 18 low. Oil contracts are likely to remain under pressure and gains are considered corrective. The bear trigger in Brent (K1) is $61.45, Mar 18 low. In WTI (K1), the bear trigger is $58.28, also the Mar 18 low.
  • In the FI space:
    • The key directional triggers in Bunds (M1) this week are:
        • 170.52, Mar 18 low
        • 172.20, Mar 11 high
    • Gilts (M1) registered fresh trend lows last week confirming a resumption of the downtrend. The focus is on 126.55, Apr 17, 2019 low (cont). The bear trigger is 126.79, Mar 18 low while resistance is 128.33, Mar 16 high.
    • Treasuries remain in a downtrend. The focus is on 131-00 and 130-07, Feb 2 2020 low and a key support.
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