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 BRIEF: Fed's Goolsbee Sees Rates Fair Bit Lower In A Year

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

USD/ZAR Flirts With 16.00 as Risk Sentiment Remains Jumpy Pre-FOMC

SOUTH AFRICA
  • USD/ZAR trades -0.23% lower this morning, retracing some of yesterday’s weakness in thin holiday markets.
  • ZAR has been on a notable roller-coaster of late as a result of broad-based risk off, reduced terms of trade and falling Chinese growth expectations – resulting in a sharp unwind in previously favourable long ZAR positioning.
  • SA’s improved fiscal picture and still-strong external balances still remain attractive, and alongside a robust March trade balance and solid real yields reflect which reflect decent macro fundamentals.
  • At these levels, USD/ZAR looks fairly stretched to the upside, but will need a more sustainable turnaround in global risk sentiment before achieving greater stability around the 15.50-15.00 mark.
  • The focus this week will undoubtedly be on the Fed and USD strength as Powell prepares to accelerate the Fed’s tightening. Intraday Sup1: 16.006, Sup2: 15.9593, Res1: 16.1499, Res2: 16.2141
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.