MNI China Daily Summary: Monday, January 20

MNI: EURZONE NOV CONSTRUCTION PRODUCTION 1.2% M/M

MNI: GERMANY DEC PRODUCER PRICES -0.1% M/M, 0.8% Y/Y

MNI BRIEF: China Steel Industry To Control Capacity Further

MNI BRIEF: China, US To Strengthen Trade Dialogue - Official

MNI: China CFETS Yuan Index Down 0.05% In Week of Jan 17

MNI: EUROZONE NOV CONSTRUCTION OUTPUT +1.2% M/M, +1.4% Y/Y

MNI: GERMANY DEC PRODUCER PRICES +0.8% Y/Y

JAPAN DATA: Japan November Machine Orders +3.4% M/M

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 Firms Amid Greenback Weakness

ZAR
EM BulletBulletEmerging Market News

USD/ZAR has lost some altitude, printing its worst levels in two weeks, as the greenback shows weakness (BBDXY -0.2%). The rate last deals at 18.6944, over 500 pips lower on the session, with bears looking for a dip through Jan 6 low of 18.4323. Conversely, bulls keep an eye on Jan 13 high of 19.2296 and Apr 23 high of 19.2696.

  • The US dollar weakened on the back of a report that US President-elect Donald Trump held a "very good" phone call with Chinese President Xi Jinping.
  • SAGB yields have faltered across the curve. South Africa's 5-year and 10-year breakeven inflation rates have slipped to 4.44% and 5.53%.
  • The aggregate BBG Commodity Index has shed 0.5%, with the precious metals subindex also down 0.5%. Gold changes hands ~$3.6/oz. higher.
  • The ANC's NEC decided against disbanding provincial structures in Gauteng and KwaZulu-Natal and chose to "reconfigure and rebuild" them instead.
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USD/ZAR has lost some altitude, printing its worst levels in two weeks, as the greenback shows weakness (BBDXY -0.2%). The rate last deals at 18.6944, over 500 pips lower on the session, with bears looking for a dip through Jan 6 low of 18.4323. Conversely, bulls keep an eye on Jan 13 high of 19.2296 and Apr 23 high of 19.2696.

  • The US dollar weakened on the back of a report that US President-elect Donald Trump held a "very good" phone call with Chinese President Xi Jinping.
  • SAGB yields have faltered across the curve. South Africa's 5-year and 10-year breakeven inflation rates have slipped to 4.44% and 5.53%.
  • The aggregate BBG Commodity Index has shed 0.5%, with the precious metals subindex also down 0.5%. Gold changes hands ~$3.6/oz. higher.
  • The ANC's NEC decided against disbanding provincial structures in Gauteng and KwaZulu-Natal and chose to "reconfigure and rebuild" them instead.