MNI China Daily Summary: Wednesday, November 20

MNI BRIEF: Chinese Aluminium Exporters To Renegotiate Prices

MNI BRIEF: BOJ October Real Export Index Falls 4.9% M/M

MNI: PBOC Net Injects CNY69.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1935 Weds; +0.09% Y/Y

CHINA PBOC CONDUCTS CNY302.1 BLN VIA 7-DAY REVERSE REPOS WEDS

MNI: EUROZONE SEP CONSTRUCTION OUTPUT -0.1% M/M, -1.6% Y/Y

MNI: GERMANY OCT PRODUCER PRICES -1.1% Y/Y

MNI: UK OCT CPI +0.6% M/M, +2.3% Y/Y

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

FED: Powell's Time Looks Up, Replacement Could Be Less Willing To Cut Rates?

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(Z0) Fresh All-Time High Print Once Again

BTP TECHS
  • RES 4: 153.09 1.00 projection of Jun 10 - Aug 20 - Sep 9 swing (cont)
  • RES 3: 152.71 1.236 proj of Oct 22 - Nov 9 rally from Nov 11 low
  • RES 2: 152.02 1.00 proj of Oct 22 - Nov 9 rally from Nov 11 low
  • RES 1: 151.46 All Time High Nov 24
  • PRICE: 151.32 @ Close Nov 25
  • SUP 1: 150.39 Low Nov 18
  • SUP 2: 149.64 Low Nov 12
  • SUP 3: 149.09 Low Nov 11 and key near-term support
  • SUP 4: 148.97 Low Nov 2

BTPS extended recent gains and registered a fresh all-time high of 151-57. The climb above resistance at 151.30, high Nov 9 and 23 confirms a resumption of the underlying uptrend and paves the way for a move towards the 152.00 handle with a Fibonacci projection at 152.02. Near-term firm support has been defined at 150.39, Nov 18 low and just below the 20-day EMA. A clear break of 150.39 is required to dent the current bullish mood.

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