MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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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ZAR: Rand Edges Higher But Depreciation Theme Remains In Play

ZAR
EM BulletBulletEmerging Market News

USD/ZAR trades at 18.8105, around 300 pips lower on the session, but the short-term uptrend remains intact. A retreat past Dec 12 low of 17.6191 would give bears some initial reprieve. On the flip side, bulls look for a break and consolidation above the 19.0 figure after it got pierced amid thin liquidity a couple of days back.

  • Local headline flow remains rather thin during the Christmas/New Year period, with ongoing riots in neighbouring Mozambique flagged as a source of concern.
  • SAGB yields are slightly lower across the curve, with South Africa's 10-year breakeven inflation rate last seen at 5.38%.
  • The composite BBG Commodity Index sits a tad lower; the precious metals subindex operates 0.5% shy of neutral levels.
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USD/ZAR trades at 18.8105, around 300 pips lower on the session, but the short-term uptrend remains intact. A retreat past Dec 12 low of 17.6191 would give bears some initial reprieve. On the flip side, bulls look for a break and consolidation above the 19.0 figure after it got pierced amid thin liquidity a couple of days back.

  • Local headline flow remains rather thin during the Christmas/New Year period, with ongoing riots in neighbouring Mozambique flagged as a source of concern.
  • SAGB yields are slightly lower across the curve, with South Africa's 10-year breakeven inflation rate last seen at 5.38%.
  • The composite BBG Commodity Index sits a tad lower; the precious metals subindex operates 0.5% shy of neutral levels.