CANADA MAY RETAILS -0.8% VS FORECAST -0.6%, PRIOR +0.6%

MNI: Canada June Retails Fall And May Biggest Drop In A Year

MNI China Daily Summary: Friday, July 19

MNI BRIEF: China To Boost Consumer Spending, New Industries

MNI BRIEF: China Enhances Fiscal Response To Boost Economy

MNI BRIEF: China To Promote Migrates' Rights, Reform Hukou System

MNI: BAKER HUGHES US RIG COUNT 586; OIL RIGS 477; GAS RIGS 103

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

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

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

USD/ZAR Breaches Recent Lows Despite Worse Than Expected Trade & Budget Data

ZAR

USD/ZAR remains heavy and pierces support from Nov 24 low of ZAR16.9073 at typing, with South Africa's trade and budget data having little impact on price action. The rate last deals at ZAR16.9059, down ~940 pips on the session, with bears now looking for further sales towards Aug 25 low of ZAR16.7102.

  • South Africa's trade balance unexpectedly flipped into a deficit of ZAR4.3bn in October from a surplus of ZAR26.2bn in September, while budget deficit widened more than expected to ZAR40.6bn in October from ZAR3.3bn prior.
  • The impressive rally in FTSE/JSE Africa Top40 Index continues, with the equity benchmark now ~2.9% higher on the day and printing its best levels since Apr 5.
  • South Africa's yield curve has bear steepened. 10-year breakeven inflation rate has crept higher and last sits at 6.24%.
  • The BBG Commodity Index extends gains and last sits ~1.4% higher on the day, with the precious metals subindex last ~1% better off.
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.