MNI China Daily Summary: Thursday, July 18

MNI BRIEF: China To Upgrade Rural Land Reform: 3rd Plenum

MNI BRIEF: China's Third Plenum Eye's Deeper Financial Reform

MNI BRIEF: China Third Plenum Expands International Opening

MNI China Press Digest July 18: PBOC, Beijing, Arctic Shipping

MNI: PBOC Net Injects CNY47 Bln Via OMO Thurs; Rates Unchanged

MNI: EUROZONE MAY CONSTRUCTION OUTPUT -0.9% M/M, -2.4% Y/Y

UK private regular wage growth shows big drop in single month figures

TLFS transition delayed again

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

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Rand Tad Softer, SARB MPR Awaited

ZAR

Spot USD/ZAR operates slightly above neutral levels, last at 18.8069. A break above Oct 6 high of 19.6399 would support the bullish case, while bears eye Sep 20 low of 18.6825 for initial support.

  • SAGB yields have inched higher, with South Africa's 10-year breakeven inflation rate rising to 7.06%. The composite BBG Commodity Index has edged lower, while the precious metals subindex little changed on the day.
  • Local reports suggest that there is growing backlash from ruling ANC party leadership against Public Enterprises Minister Pravin Gordhan's handling of SOEs. Separately, Electricity Minister Kgosientsho Ramokgopa reaffirmed his optimism about the outlook for the energy situation.
  • South Africa's Automobile Association (AA) suggested that fuel prices are set to drop in November, giving consumers some reprieve. Their forecast is based on unaudited mid-month data from the Central Energy Fund (CEF).
  • The SARB will release its semiannual Monetary Policy Review this afternoon.
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