MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

MNI: PBOC Sets Yuan Parity Higher At 7.1870 Mon; -1.39% Y/Y

MNI: China CFETS Yuan Index Down 0.36% In Week of Dec 6

MNI: PBOC Net Injects CNY13.8 Bln via OMO Monday

MNI BRIEF: PBOC Increases Gold Reserves

CORRECTED-MNI: Fed's Hammack-Near Or At Time To Slow Rate Cuts

MNI JAPAN Q3 GDP REV +0.3% Q/Q; PRELIM +0.2%; MEDIAN +0.2%

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT PRELIMINARY DEC INDEX 74.0

CANADA NOV IVEY PURCHASING MANAGERS INDEX 52.3 SA

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 Under Pressure, Gold Ticks Lower

ZAR

Spot USD/ZAR creeps higher for the third consecutive day, with some pressure to gold prices possibly spilling over into the rand. The pair deals at 19.0860, around 1,000 pips above neutral levels, testing resistance from Mar 28 high of 19.1063. A clean break here would expose Feb 23 high of 19.3899. Conversely, a pullback through Apr 9 low of 18.4131 would signal potential for a firmer bearish move.

  • The composite BBG Commodity Index is stable, as is the precious metals subindex after erasing its initial uptick. Gold is on the back foot, shedding $10.4/oz., albeit still operates in the vicinity of recent all-time highs.
  • SAGB yields ticked higher across the curve, pushing benchmark 10-year breakeven inflation rate to new cyclical highs of 7.26%. This is the highest point for the rate since Oct 19, 2023. The National Treasury holds a bond auction today.
  • Domestic headline flow has been subdued, with little of real note in terms of political events or data releases.
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.