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: PBOC Conducts CNY2 Bln Via OMO Mon; Liquidity Unchanged

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

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

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

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

NBH Data Watch

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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Trend Signal Remains Bearish

EURGBP TECHS
  • RES 4: 0.8867 High Oct 12
  • RES 3: 0.8829 High Nov 09 and the bull trigger
  • RES 2: 0.8778 High Nov 16
  • RES 1: 0.8664 50-day EMA
  • PRICE: 0.8618 @ 06:25 GMT Dec 8
  • SUP 1: 0.8547 Low Dec 1 and the bear trigger
  • SUP 2: 0.8522 Low Aug 30
  • SUP 3: 0.8471 Low Aug 28
  • SUP 4: 0.8449 1.236 proj of the Oct 12 - 31 - Nov 9 price swing

EURGBP is unchanged and continues to trade above recent lows. A bearish threat remains present and attention is on the Oct 31 low of 0.8560 that was pierced on Dec 1. A clear break of this level would strengthen a bearish theme and open 0.8522, the Aug 30 low. Moving average studies have crossed, highlighting a potential bear mode set-up. A clear break of 0.8560 would reinforce this moving average signal. Key resistance is at 0.8829.

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