MNI: POWELL SAYS PCE INFLATION CAME IN LINE WITH EXPECTATIONS

MNI China Daily Summary: Friday, March 29

MNI: PBOC Injects Net CNY148 Bln Via OMO Fri; Rates Unchanged

MNI: PBOC Sets Yuan Parity Higher At 7.0950 Fri; -4.70% Y/Y

CHINA PBOC INJECTS CNY150 BILLION VIA 7-DAY REVERSE REPOS FRI

CHINA SETS YUAN CENTRAL PARITY AT 7.0950 FRI VS 7.0948

MNI: US FEB PERSONAL INCOME +0.3%; NOM PCE +0.8%

HICP Tracking at 2.4%Y/Y - One tenth below consensus

HICP 2 tenths softer than expected, but partly on clothing prices

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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Rand Continues To Appreciate, Erasing Weekly Loss

ZAR

Spot USD/ZAR has now given away all of its weekly gain as the South African Rand tops the EMEA pile today, despite little in the way of reassuring domestic news. The Fed's monetary policy decision provides the focal point today, but participants interested in local matters will also keep an eye on the Cabinet's strategy meeting.

  • The pair last deals at ZAR17.2000, down ~2,080 pips on the session. The general technical picture outlined earlier remains in effect, with bears looking for a continued sell-off towards Jan 12 low of ZAR16.6950.
  • The commodity space remains under pressure. The composite BBG Commodity Index has shed ~1.1% so far, albeit the precious metals subindex sits just ~0.1% below neutral levels, with gold little changed.
  • South Africa's 10-year breakeven inflation rate has extended its downward move to a fresh one-year low of 5.80% and sits just above there at typing.
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