MNI BRIEF: China June CPI Hits Three Month Low

RBNZ MPC SAYS OCR "HAS SIGNIFICANTLY REDUCED CPI"

MNI: RBNZ LEAVES OCR AT 5.5%

MNI: PBOC Conducts CNY2 Bln Via OMO Weds; Liquidity Unchanged

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS WEDS

MNI: PBOC Sets Yuan Parity Higher At 7.1342 Weds; -0.53% Y/Y

Headline CPI Ticks Down To 0.2% Y/Y, PPI In Line

CHINA JUNE FOOD PRICES -2.1% Y/Y VS -2.0% Y/Y MAY

CHINA JUNE CPI +0.2% Y/Y VS MEDIAN +0.4%; MAY +0.3% Y/Y: NBS

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

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

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

USD/ZAR Eyes 15.00 Support on Risk-On, ANC Factional Infighting Finds a New Focal Point

SOUTH AFRICA
  • USD/ZAR trades -0.20% at the open, tracking price action in USD/CNH and broad-based selling pressure on the BBDXY as risk-on conditions maintain momentum into today's session.
  • The cross fell -1.28% in yesterday's session, pulling back from August's swing highs at 15.40 and subsequently out of overbought territory on the RSI.
  • Today's focus will be on unemployment data, with the labour market still under immense pressure as a result of the Covid-19 pandemic – keeping unemployment at historic highs.
  • Rumours of rioting were quelled yesterday as a strong police presence forced a postponement of the movement, which has now changed its tune to one of peaceful protest.
  • High unemployment remains the powder keg that ignited recent rioting in SA, and it seems the factional battles within the ANC are now shifting focus towards the broadly unaffordable Basic Income Grant as a means of putting Ramaphosa on the backfoot – and could become the next source of socio-political and fiscal contention.
  • Next focal point for the cross is the 15.10-14.90 support zone ahead of this week's Jackson Hole Symposium.
  • Intraday Sup1: 14.9957, Sup2: 14.9065, Res1: 15.1367, Res2: 15.2723
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.