MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1046 Fri; -5.03% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1046 FRI VS 7.1020

INE Business Confidence Data Supports Upward Revisions In Q1 GDP Forecasts

MNI: GERMANY FEB PRODUCER PRICES -2.9% Y/Y

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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(V2) Bear Trigger Remains Exposed

BRENT TECHS
  • RES 4: $110.72 - High Jul 5
  • RES 3: $106.50 - High Jul 29 and a key resistance
  • RES 2: $100.38/67 - High Aug 12 / 50-day EMA
  • RES 1: $97.66 20-day EMA
  • PRICE: $93.71 @ 07:04 BST Aug 18
  • SUP 1: $91.22 - Low Jul 14 and the bear trigger
  • SUP 2: $90.00 - Round number support
  • SUP 3: $88.31 - Low Mar 9 and a key support
  • SUP 4: $85.88 - Low Feb 25

Brent futures started the week on a softer note and the contract remains vulnerable. The move lower this week has defined a key short-term resistance at $100.38, Aug 12 high, ahead of the 50-day EMA which intersects at $100.67. Attention is on support at $91.22, Jul 14 low. A break would confirm a resumption of the broader downtrend and strengthen bearish conditions. Clearance of $100.38/96 is required to highlight a reversal.

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