MNI China Daily Summary: Thursday, June 20

NORGES BANK HEAD: EITHER HIKE OR EARLIER CUT POSSIBLE

NORGES BANK HEAD SEES POLICY RATE AT 4.5% TO END YEAR

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

CHINA PBOC CONDUCTS CNY20 BILLION VIA 7-DAY REVERSE REPOS THU

MNI: PBOC Sets Yuan Parity Higher At 7.1192 Thu; -1.93% Y/Y

IFO Upwardly Revises 2024 Growth Forecast by 0.2pp to +0.4% Y/Y

NOK Little Changed Ahead of Norges Bank; Hold In Rates Expected

Intermediate Goods Deflation Continues to Fade in May PPI

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

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

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

USD/ZAR at the Mercy of Global Factors as Risk Sentiment Sours

SOUTH AFRICA
  • USD/ZAR trades +0.21% higher this morning, tracking early price action in the BBDXY as weaker risk sentiment filters through from the APAC session.
  • The cross closed last week -0.46% lower, having held a choppy 15.80-16.2651 range in a busy week for central banks across the globe.
  • With little data to focus on this week as holiday markets set in, ZAR will likely be driven by global risk factors and Omicron developments into year-end.
  • Some regions in SA are reporting peaks in cases while others continue to rise, so it seems premature to call a peak in infections just yet.
  • However, cases appear to be less severe with hospitals managing the caseload at present.
  • US current account and GDP data will be monitored this week, alongside increased lockdown risks in DM economies causing a drag on global risk sentiment.
  • Levels on either side of the 15.80-16.26 range will be monitored for breakouts in either direction.
  • Intraday Sup1: 15.8726, Sup2: 15.8019, Res1: 15.9742, Res2: 16.0373
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.