MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI BRIEF: Size Of June Cut Still Undecided -BCB's Campos Neto

HICP 2 tenths softer than expected, but partly on clothing prices

MNI: ITALY MAR FLASH HICP +1.2% M/M, +1.3% Y/Y

France HICP lower than expected

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Trading At Its Recent Lows

EURGBP TECHS
  • RES 4: 0.8627 High Jul 4
  • RES 3: 0.8585 High Jul 21 and a key resistance
  • RES 2: 0.8487 50-day EMA
  • RES 1: 0.8426/55 High Jul 27 / 20-day EMA
  • PRICE: 0.8366 @ 16:22 BST Aug 3
  • SUP 1: 0.8340 Low Aug 2
  • SUP 2: 0.8313 Low Apr 22
  • SUP 3: 0.8263 2.0% 10-dma envelope
  • SUP 4: 0.8250 Low Apr 14 and a key support

EURGBP is trading close to recent lows and the outlook is bearish. Recent weakness has reinforced a bearish theme and the latest spell of weakness has also resulted in a print below 0.8367, the May 2 low. A continuation lower would open 0.8313 next, the Apr 22 low. The Jul 21 high of 0.8585 has been defined as a key short-term resistance where a break would reinstate a bullish theme. Initial firm resistance to watch is 0.8455, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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