MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

US EIA:NAT GAS STORAGE -190 BCF TO 3,747 BCF DEC 06 WK

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

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

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

Rand Posts Gains Ahead Of Fed MonPol Decision

ZAR

Spot USD/ZAR resumes losses after an upswing yesterday, which interrupted the rand's earlier three-day winning streak. South African markets are shut today amid widespread holiday closures due to May 1 holidays, which thins out liquidity. The pair last deals at 18.7145, around 675 pips below previous closing levels.

  • Familiar technical parameters remain in play, with bears looking for a move towards Apr 9 low of 18.4131 as bulls continue to eye resistance from Apr 19/Feb 23 highs of 19.3862/99.
  • The precious metals subindex has stabilised after a 2.6% loss yesterday, with gold last trading just shy of unchanged levels at present.
  • In the absence of domestic catalysts in South Africa, the focus turns to the Fed's monetary policy decision due later today.
  • Looking ahead, Absa Manufacturing PMI, Naamsa vehicle sales and electricity production/consumption will cross the wires tomorrow.
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.