MNI BRIEF: German Infl In Line With EA, Growth Lags - GCEE

MNI BRIEF: Focus Support For Cutting-Edge Tech - Ministry

MNI BRIEF: EU Won't Necessarily Follow US on Tariffs-Gentiloni

MNI China Daily Summary: Wednesday, May 15

MNI: PBOC Conducts CNY125 Bln 1Y MLF Weds; Rates Unchanged

MNI: PBOC Sets Yuan Parity Lower At 7.1049 Weds; -3.97% Y/Y

US EIA: CRUDE OIL STOCKS EX SPR -2.51M TO 457.0M MAY 10 WK

MNI: US MAR BUSINESS INVENTORIES -0.1%; SALES -0.1%

MNI: US NAHB HOUSING MARKET INDEX 45 IN MAY

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

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

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Rand Garners Some Strength, Local PPI Print Eyed

ZAR
BulletEM BulletEmerging Market NewsHomepage

Spot USD/ZAR changes hands at 19.1040, more than 1,200 pips below neutral levels, as the greenback comes under pressure, with the rand pacing gains in the EMEA space. The 50-EMA crosses at 18.9153, providing the initial layer of support. Meanwhile, bulls look for a rebound towards Apr 19/Feb 23 highs of 19.3862/99.

  • SAGB yields sit higher across the curve, with 10-year breakeven inflation rate climbing to 7.13%. Bloomberg's gauge of precious metals strength is just a tad firmer on the day, while gold is ~$11.1/oz. better off, ahead of the release of key US PCE data.
  • South Africa will report March PPI data at 10:30BST/11:30SAST, with consensus looking for a 4.5% Y/Y increase in factory-gate prices, unchanged from the February reading. On a sequential basis, inflation may have quickened to +1.0% M/M from +0.5% prior.
  • South Africa said that its request for WTO consultations with the EU over measures taken against the import of South African citrus fruit has been circulated to members of the organisation.
163 words

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.

Spot USD/ZAR changes hands at 19.1040, more than 1,200 pips below neutral levels, as the greenback comes under pressure, with the rand pacing gains in the EMEA space. The 50-EMA crosses at 18.9153, providing the initial layer of support. Meanwhile, bulls look for a rebound towards Apr 19/Feb 23 highs of 19.3862/99.

  • SAGB yields sit higher across the curve, with 10-year breakeven inflation rate climbing to 7.13%. Bloomberg's gauge of precious metals strength is just a tad firmer on the day, while gold is ~$11.1/oz. better off, ahead of the release of key US PCE data.
  • South Africa will report March PPI data at 10:30BST/11:30SAST, with consensus looking for a 4.5% Y/Y increase in factory-gate prices, unchanged from the February reading. On a sequential basis, inflation may have quickened to +1.0% M/M from +0.5% prior.
  • South Africa said that its request for WTO consultations with the EU over measures taken against the import of South African citrus fruit has been circulated to members of the organisation.