MNI China Daily Summary: Monday, July 29

MNI: China CFETS Yuan Index Up 0.15% In Week of Jul 26

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Higher At 7.1316 Mon; -1.56% Y/Y

CHINA PBOC CONDUCTS CNY301.57 BILLION VIA 7-DAY REVERSE REPOS MON

CHINA SETS YUAN CENTRAL PARITY AT 7.1316 MON VS 7.1270

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RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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(Z1) 50-Day EMA Remains Exposed

CORN TECHS
  • RES 4: $688.75 - 1.00 proj of Mar 30 - May 7 - May 26 price swing
  • RES 3: $644.25 - 0.764 proj of Mar 30 - May 7 - May 26 price swing
  • RES 2: $638.00 - High May 7 and the bull trigger
  • RES 1: $628.25 - High Jun 10
  • PRICE: $579.75 @ 13:44 BST Jun 16
  • SUP 1: $554.19 - 50-day EMA
  • SUP 2: $500.25 - Low May 26 and key support
  • SUP 3: $481.50 - Low Apr 7
  • SUP 4: $449.50 - Low Mar 30

Corn futures started the week on a softer note extending the pullback from last week's high of $628.25 on Jun 10.The move lower has resulted in a break of the 20-day EMA. This signals scope for a deeper pullback towards the 50-day EMA at $554.19. The 50-day EMA represents an important area of support. On the upside, a break above $628.25, Jun 10 high is required to expose the bull trigger at $638.00, May 7 high

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