MNI BRIEF: JGB Reduction Scale To Be "Suitable" - BOJ's Ueda

MNI BRIEF: BOJ Maintains Econ, Inflation View Assessment

BOJ DECIDES TO CUT JGB BUYING; RELEASE DETAILS AT APRIL MEETING

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

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

MNI: PBOC Sets Yuan Parity Higher At 7.1151 Fri; -1.51% Y/Y

MNI: FRANCE MAY HICP +0.1% M/M, +2.6% Y/Y

Services Inflation Pushed Higher By Concert-related Categories

MNI: SWEDEN MAY CPIF +2.3% Y/Y

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

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Rand On Back Foot, Eskom Boosts Loadshedding

ZAR

Spot USD/ZAR resumes gains as market participants digest yesterday's on-hold SARB rate decision which came after an expectation-beating inflation print. The pair last deal at 18.8916, up ~770 pips on the day, holding above the neckline of a double bottom pattern at 18.8057. Continued gains towards Oct 26 high of 19.2710 would support the bullish case. Bears look for a dip through Nov 15 low of 18.1117.

  • The SARB left its repo rate unchanged at 8.25% in a 5-0 decision, but Governor Kganyago warned of upside risks to the inflation outlook and refused to speculate on the timing of future rate cuts.
  • Eskom has just announced that it would be boosting loadshedding to Stage 6 for the entirety of this coming weekend amid a shortage of generation capacity and emergency reserves, which may add some pressure to the rand.
  • SAGB yields are higher across the curve, with South Africa's 10-year breakeven inflation rate climbing to 6.75%.
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.