MNI China Daily Summary: Friday, December 27

MNI BRIEF: BOJ: Rate Hike Chance Nearing; Mull Patiently

MNI: PBOC Net Injects CNY6.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Lower At 7.1893 Fri; -2.12% Y/Y

MNI JAPAN NOV FACTORY OUTPUT DROPS 2.3% M/M; OCT +2.8%

MNI JAPAN NOV JOBLESS RATE AT 2.5%, UNCHANGED FROM OCT

US EIA:NAT GAS STORAGE -93 BCF TO 3,529 BCF DEC 27 WK

MNI: US JOBLESS CLAIMS -1K TO 219K IN DEC 21 WK

MNI: US REDBOOK: DEC STORE SALES +5.0% V YR AGO MO

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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US 10YR FUTURE TECHS: (H5) Corrective Cycle Extends

US 10YR FUTURE TECHS
USFixed Income Technical AnalysisBulletMarketsFixed Income BulletsNorth America
  • RES 4: 112-31   High Oct 16 and a key short-term resistance 
  • RES 3: 111-26   High Oct 22
  • RES 2: 111-14+ 50-day EMA 
  • RES 1: 111-00   High Nov 27
  • PRICE:‌‌ 110-29+ @ 16:53 GMT Nov 27
  • SUP 1: 109-20   Low Nov 20/21     
  • SUP 2: 109-02+ Low Nov 15 and the bear trigger  
  • SUP 3: 108-28   1.236 proj of the Oct 1 - 14 - 16 price swing     
  • SUP 4: 108-12+ 1.382 proj of the Oct 1 - 14 - 16 price swing

The medium-term trend direction in Treasuries is unchanged, it remains down and gains appear corrective. However, this week’s move higher has resulted in a breach of the 20-day EMA. The break signals scope for a stronger recovery and opens the 50-day EMA, at 111-14+. This EMA marks the next important resistance. For bears, a reversal lower would signal the end of the correction and open the bear trigger at 109+02+, the Nov 15 low.

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  • RES 4: 112-31   High Oct 16 and a key short-term resistance 
  • RES 3: 111-26   High Oct 22
  • RES 2: 111-14+ 50-day EMA 
  • RES 1: 111-00   High Nov 27
  • PRICE:‌‌ 110-29+ @ 16:53 GMT Nov 27
  • SUP 1: 109-20   Low Nov 20/21     
  • SUP 2: 109-02+ Low Nov 15 and the bear trigger  
  • SUP 3: 108-28   1.236 proj of the Oct 1 - 14 - 16 price swing     
  • SUP 4: 108-12+ 1.382 proj of the Oct 1 - 14 - 16 price swing

The medium-term trend direction in Treasuries is unchanged, it remains down and gains appear corrective. However, this week’s move higher has resulted in a breach of the 20-day EMA. The break signals scope for a stronger recovery and opens the 50-day EMA, at 111-14+. This EMA marks the next important resistance. For bears, a reversal lower would signal the end of the correction and open the bear trigger at 109+02+, the Nov 15 low.