MNI China Daily Summary: Friday, June 28

MNI BRIEF: PBOC Pledges to Curb Any Overshoot Of The Yuan: MPC

MNI: PBOC Net Injects CNY40 Bln Via OMO Fri; Rates Unchanged

CHINA PBOC CONDUCTS CNY50 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1268 Fri; -0.32% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1268 FRI VS 7.1270

Inflation Slowed in June, Shaking Off May Hotel Price Jump

Broad-based Deceleration In June Core Metrics

MNI: ITALY JUN FLASH HICP +0.2% M/M, +0.9% % Y/Y; MAY +0.8% Y/Y

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

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

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USD/ZAR Hovers Above Five-Month Lows

ZAR
BulletEM BulletEmerging Market NewsHomepageBond Market News

Spot USD/ZAR has recouped its initial losses after hitting new five-month lows this morning. The rate last operates at 18.1970, just above neutral levels. From a technical perspective, bears look for losses past Dec 15 low of 18.1092, before setting their sights on the 18.0 figure. Bulls see the 20-EMA (18.5272) as their initial target.

  • SAGB yields are a tad lower across the curve ahead of a local bond sale. The National Treasury will auction 5.125% 2043 and 2.500% 2050 inflation-linked bonds. South Africa's 10-year breakeven inflation rate has fallen further to 6.61%.
  • The composite BCOM Index sits 0.7% higher on the day, with the precious metals subindex up 0.15%, as gold trades ~$7/oz. better off.
  • S&P may review South Africa's credit rating after hours today.
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Spot USD/ZAR has recouped its initial losses after hitting new five-month lows this morning. The rate last operates at 18.1970, just above neutral levels. From a technical perspective, bears look for losses past Dec 15 low of 18.1092, before setting their sights on the 18.0 figure. Bulls see the 20-EMA (18.5272) as their initial target.

  • SAGB yields are a tad lower across the curve ahead of a local bond sale. The National Treasury will auction 5.125% 2043 and 2.500% 2050 inflation-linked bonds. South Africa's 10-year breakeven inflation rate has fallen further to 6.61%.
  • The composite BCOM Index sits 0.7% higher on the day, with the precious metals subindex up 0.15%, as gold trades ~$7/oz. better off.
  • S&P may review South Africa's credit rating after hours today.