MNI China Daily Summary: Friday, December 13

MNI BRIEF: PBOC To Curb Any Yuan Overshot : PBOC Zou

MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

CHINA YTD NEW LOANS CNY17.1 TRLN VS MEDIAN CNY17.5 TRLN: PBOC

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI: EUROZONE OCT IP +0% M/M, -1.2% Y/Y

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

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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(Z3) Heading North

EUROSTOXX50 TECHS
  • RES 4: 4407.40 76.4% retracement of the Jul 31 - Oct 27 bear leg
  • RES 3: 4388.00 High Aug 30
  • RES 2: 4359.00 High Sep 15 and key resistance
  • RES 1: 4329.80 61.8% retracement of the Jul 31 - Oct 27 bear leg
  • PRICE: 4314.00 @ 05:54 GMT Nov 15
  • SUP 1: 4176.00/4143.00 20-day EMA / Low Nov 8
  • SUP 2: 4063.00 Low Nov 1
  • SUP 3: 4001.00 Low Oct 27 and bear trigger
  • SUP 4: 3979.00 1.00 proj of the Sep 15 - Oct 4 - Oct 12 price swing

A short-term bull cycle in Eurostoxx 50 futures remains intact and the contract traded higher Tuesday. Price has recently cleared resistance at both the 20- and 50-day EMAs - a bullish development. Note that yesterday’s gains resulted in a breach of resistance at 4256.00, the Oct 12 high. The focus is on 4329.80, a Fibonacci retracement. Initial support to watch is at 4176.00, the 20-day EMA.

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