MNI China Daily Summary: Wednesday, January 8

MNI: GERMANY NOV RETAIL SALES -0.6% M/M (FCST: 0.5%)

MNI BRIEF: Q3 Output Gap Hits 18th Negative Result - BOJ

MNI: PBOC Net Injects CNY1.1 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1887 Weds; -2.33% Y/Y

MNI BRIEF: Fed's Bostic Says Bumpy Inflation Calls For Caution

MNI: US MBA: MARKET COMPOSITE -3.7% SA THRU JAN 03 WK

EZ/UK T-Bill Calendar: Italy, UK Auction on Friday

MNI: EUROZONE NOV PPI +1.6% M/M, -1.2% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

ZAR: Rand Loses Ground, USD/ZAR Tests 18.0

ZAR
EM BulletBulletEmerging Market News

Spot USD/ZAR has crept higher as South Africa returns from a public holiday, with a modicum of dollar strength (BBDXY +0.1%) lending some support to the pair. Otherwise, the local headline flow has been relatively thin, with little in the way of market-relevant headlines. The pair has just pierced the 18.0 figure and last deals at 18.0030, over 1,400 pips higher on the session. The focus is on 18.3951, which capped gains on Nov 14. Bears look for a dip through Nov 7 low of 17.2711.

  • SAGB yields have climbed across the curve as local markets re-opened. Key market-based metrics of inflation expectations have ticked higher, with 5-year breakeven rate last seen at 4.25% and with 10-year breakeven rate at 5.27%.
  • The composite BBG Commodity Index operates 0.5% below neutral levels, with the precious metals subindex sitting 0.6% lower on the session. Gold trades ~$7.3/oz. worse off.
  • South Africa's leading indicator rose to 114.0 in October from the revised 112.8.
157 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 has crept higher as South Africa returns from a public holiday, with a modicum of dollar strength (BBDXY +0.1%) lending some support to the pair. Otherwise, the local headline flow has been relatively thin, with little in the way of market-relevant headlines. The pair has just pierced the 18.0 figure and last deals at 18.0030, over 1,400 pips higher on the session. The focus is on 18.3951, which capped gains on Nov 14. Bears look for a dip through Nov 7 low of 17.2711.

  • SAGB yields have climbed across the curve as local markets re-opened. Key market-based metrics of inflation expectations have ticked higher, with 5-year breakeven rate last seen at 4.25% and with 10-year breakeven rate at 5.27%.
  • The composite BBG Commodity Index operates 0.5% below neutral levels, with the precious metals subindex sitting 0.6% lower on the session. Gold trades ~$7.3/oz. worse off.
  • South Africa's leading indicator rose to 114.0 in October from the revised 112.8.