Rand Falters Ahead Of Local Data Releases

Spot USD/ZAR has edged higher and last deals at 18.7845, around 340 pips above neutral levels, with bulls looking for a move through Nov 24 high of 18.9570 and Oct 26 high of 19.2710. Bears keep an eye on support from Nov 15 low of 18.1117.

• SAGB yields are little changed in the wake of recent dips, with South Africa's 10-year breakeven inflation rate last seen 6.47%. The composite BBG Commodity Index is little changed, with the precious metals subindex operating 0.3% lower on the day.
• The Financial Action Task Force (FATF) released a report showing that South Africa is making progress in its efforts to get taken off the watchdog's grey list. The FATF re-rated 18 of South Africa's 20 deficiencies, noting progress on 15 of them.
• Eskom moderated loadshedding to Stage 3 until 16:00 today, with Stage 4 set to kick in thereafter, followed by the implementation of Stage 5 overnight. The utility will provide a further update later today.
• South Africa's October PPI data will cross the wires at 09:30GMT/10:30CET. Trade balance and budget data are due 12:00GMT/14:00SAST.