FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Rand Extends Losses As Dust Settles After SARB Rate Decision

ZAR

Spot USD/ZAR has traded with a bullish bias, with the Rand coming under continued headwinds on the back of familiar domestic factors. The rate last deals at ZAR17.2395, up ~510 pips on the day, with Jan 6 high of ZAR17.4343 drawing bullish attention. Bears keep an eye on Jan 12 low of ZAR16.6950.

  • Local-currency bond yields have reversed initial gains, with the curve running steeper as we type. South Africa's 10-year breakeven inflation rate is hovering above one-year lows printed yesterday at 5.83%.
  • The FTSE/JSE Africa All Share Index remains on a tear, hitting new record highs at 81,338 today, in the wake of a below-forecast SARB rate hike announced yesterday.
  • The aggregate BBG Commodity Index is little changed at typing, with the precious metals subindex last seen ~0.3% lower on the session.
  • There is no local economic data inbound today, with the focus on the three-day meeting of the ruling ANC's National Executive Committee.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.