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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(U1) Trading Closer To The Week's Lows

BOBL TECHS
  • RES 4: 134.758 1.382 proj of the May 20 - 26 - 31 price swing
  • RES 3: 134.663 1.236 proj of the May 20 - 26 - 31 price swing
  • RES 2: 134.510 1.00 proj of the May 20 - 26 - 31 price swing
  • RES 1: 134.390 High Jun 15
  • PRICE: 134.180 @ 05:08 BST Jun 18
  • SUP 1: 134.050 Low Jun 2
  • SUP 2: 133.860 Low May 28 and 31 and key short-term support
  • SUP 3: 133.690 Low May 24
  • SUP 4: 133.450 Low May 20 and the bear trigger

Bobl futures remain closer to this week's lows but the contract did find some support yesterday. The recent pullback is considered corrective however a bearish risk remains present. Price is below the 20-day EMA and attention is on support at 133.860, May 28 and 31 low. A break of this level would strengthen a bearish case. On the upside, key resistance and the bull trigger has been defined at 134.510, a Fibonacci projection and the Jun 11 high.

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