Dire data keeps ZAR downtrend......>

EMERGING MARKETS: Dire data keeps ZAR downtrend alive

-USD/ZAR's uptick extended further early Tuesday, with a much

poorer-than-expected ABSA Manufacturing PMI release largely responsible. The

figure, at 41.6, was the lowest reading since 2009, signalling further pressure

on the ANC as they discuss economic reforms and proposed reforms to boost growth

and lower unemployment. First resistance for USD/ZAR sits at 15.2905 ahead of

the YTD highs at 15.4995.

-INR is one of the poorest performers in Asia-Pac, with weaker domestic equities

also signalling a minor retracement after a decent few weeks. The pullback is

minor at present as markets continue to eye the recent fiscal policy action from

the Indian government, with traders eyeing resistance at today's highs of

71.1387, which also coincides with the 38.2% retracement of the September

decline and the Sep 25 high.

-Chilean economic activity data, Brazilian industrial production and further

manufacturing PMI data takes focus Tuesday.