© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI China Daily Summary: Thursday, March 30

MNI BRIEF: BOJ Extends Bilateral Swap Agreement with Thailand

MNI BRIEF: BOJ Tankan To Show Mixed Sentiment, Solid Capex

US Treasury Auction Calendar

US EIA:NAT GAS STORAGE -47 BCF TO 1,853 BCF MAR 24 WK

State and National CPI Data Signals Core Uptick

MNI INTERVIEW: Canada Budget Keeps BOC On Pause: Ex Official

MNI BRIEF: FDIC To Conduct Review Of Deposit Insurance

MNI BRIEF: Fed's Barr: Will Use All Tools To Keep Banks Safe

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
Trending Top 5
Market News Topics

Rand Turns Bid Amid Firm Showing From Commodity Space

ZAR
BulletEM BulletEmerging Markets NewsHomepage

USD/ZAR has eased off on the final day of the week, weighed on by broad-based greenback weakness coupled with commodity bid. The rate last deals at ZAR18.3197, down ~790 pips on the session. Bears look for losses past Mar 14 low of ZAR18.0420, which would mark the completion of a head-and-shoulders reversal pattern. Conversely, a key near-term resistance has been defined at Mar 8 high of ZAR18.7192.

  • The aggregate BBG Commodity Index has added ~0.9%, moving further away from its recent cyclical lows, with the precious metals subindex also ~0.9% better off.
  • Local-currency bonds have firmed across the curve, with yields down 3.1-4.2bp and 10-year breakeven inflation rate seen at 6.38%.
  • The National Energy Regulator of South Africa (NERSA) confirmed that the previously announced 18.65% electricity tariff hike for this year will go ahead, despite President Ramaphosa's call for a reconsideration of the decision. Poorer households will be eligible for a reduced 10% increase.
151 words

To read the full story

Why Subscribe to

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.

USD/ZAR has eased off on the final day of the week, weighed on by broad-based greenback weakness coupled with commodity bid. The rate last deals at ZAR18.3197, down ~790 pips on the session. Bears look for losses past Mar 14 low of ZAR18.0420, which would mark the completion of a head-and-shoulders reversal pattern. Conversely, a key near-term resistance has been defined at Mar 8 high of ZAR18.7192.

  • The aggregate BBG Commodity Index has added ~0.9%, moving further away from its recent cyclical lows, with the precious metals subindex also ~0.9% better off.
  • Local-currency bonds have firmed across the curve, with yields down 3.1-4.2bp and 10-year breakeven inflation rate seen at 6.38%.
  • The National Energy Regulator of South Africa (NERSA) confirmed that the previously announced 18.65% electricity tariff hike for this year will go ahead, despite President Ramaphosa's call for a reconsideration of the decision. Poorer households will be eligible for a reduced 10% increase.