MNI China Daily Summary: Thursday, June 27

MNI BRIEF: China EU In Close Communication - MOFCOM

MNI BRIEF: China To Hold Key Third Plenum On July 15-18

MNI Brief: China Third Plenum To Deepen Reforms

MNI: PBOC Net Injects CNY80 Bln Via OMO Thurs; Rates Unchanged

Services Expected Prices Remain At Elevated Levels

Thedeen Does Not Commit To Cut In August, Depends on Data

EZ/UK Bond Supply Calendar: BoE APF on Monday

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

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

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Rand Garners Strength After SARB Rate Decision, Precious Metals Firm

ZAR

The rand outperforms in the EMEA FX space, with USD/ZAR faltering in the wake of yesterday's hawkish hold from the SARB. The pair last operates at 18.7291, around 2,250 pips below neutral levels, with bears looking for losses past Aug 24 low of 18.3805.

  • The BBG Commodity Index sits ~0.4% higher on the day, despite trimming some of its earlier gains. The precious metals subindex has added ~0.6%, possibly lending some support to the rand.
  • Eskom will suspend power cuts over the long weekend, bringing some reprieve after the current Stage 2 outages. The utility will resume loadshedding at Stage 1 from 05:00 on Tuesday.
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