MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: ECB Should Be Close To 2% In Next Quarters -Centeno

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

MNI: US NOV IMPORT PRICES +0.1%

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 Underperforms EMEA Peers Despite Broad Greenback Weakness

ZAR

The rand is a notable underperformer in the emerging markets complex, with USDZAR up around 0.2% at typing and having traded to as high as 18.4565 earlier in the session. A 0.8% decline in the Bloomberg precious metals index is likely providing a headwind to the rand alongside higher UST yields.

  • A further decline in the USD index today, which has pierced below the 200-dma for the first time since Dec’22, has been unable to trigger any downside momentum in USDZAR.
  • Domestically, Eskom matters continue to concern market participants after Electricity Minister Ramokgopa expressed disappointment over recent grid performance, pointing to an increase in the unplanned capacity loss factor. Markets will otherwise be looking ahead to CPI data on Wednesday and the SARB rate decision on Thursday, where the central bank are unanimously expected to keep rates unchanged at 8.25%.
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.