MNI BRIEF: Inflation Risks Now Shifted To Downside-BOE Ramsden

MNI: Goolsbee Says Stalled Inflation Means Wait Before Moving

MNI China Daily Summary: Friday, April 19

MNI BRIEF: China Hog Market More Balanced In Q2 - Ministry

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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 Holds Tight Range After S. Africa's Second State Of Disaster Declaration

ZAR

Spot USD/ZAR fully unwound its initial spike yesterday and finished the session virtually unchanged, charting a shooting star candlestick as a result. The rate has held a tight range this morning and last deals at ZAR17.8602, up ~40 pips on the day. A resumption of gains would draw bullish attention to ZAR18.1367, the 76.4% retracement of the Oct 13 - Jan 12 bear leg. Conversely, bears look for a retreat towards Feb 2 low of ZAR16.9317.

  • Local-currency bond yields have faltered across the curve as the broader FI space has found poise. South Africa's 10-year inflation breakeven rate has eased to 6.04%.
  • The BBG Commodity Index is little changed as we type, with the precious metals subindex last seen ~0.2% higher on the day.
  • The FTSE/JSE Africa All Share Index is marginally firmer on the day after a failure to stage a clean break of the 23.6% retracement of its Dec 20 - Jan 27 upleg.
  • South Africa declared its second state of disaster in less than a week, this time in response to widespread flooding across seven provinces.
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.