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

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS MON

MNI: PBOC Sets Yuan Parity Lower At 7.1043 Mon; -4.74% Y/Y

MNI BRIEF: China’s April Loan Prime Rate Unchanged

CHINA SETS YUAN CENTRAL PARITY AT 7.1043 MON VS 7.1046

MNI China Daily Summary: Friday, April 19

INDON Sov Curve Flatter, Trade Surplus Soars, BI Decision Wednesday

MNI: BAKER HUGHES US RIG COUNT 619; OIL RIGS 511; GAS RIGS 106

EZ/UK Bond Supply Calendar: EU, UK Synd W/C 22 Apr, BoE APF Mon

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

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USD/ZAR Trades Choppily Within Its 14.50-15.00 Lateral Range

SOUTH AFRICA
  • USD/ZAR trader -0.16% lower this morning, mirroring early choppiness in the BBDXY.
  • The cross pared early downside to close +0.93% higher in yesterday's session, after failing to break 14.65 and hold below the 50dma.
  • This brings attention back onto the 14.88-15.00 zone. With limited data on the schedule today, markets will look towards PPI data due tomorrow for clues on the SARB's potential rate trajectory in November amid a sharp spike in energy prices - which have also eroded the attractive terms of trade that have been supporting ZAR in recent months.
  • Similar to July, forward rates have begun to price in a hiking cycle in November, with roughly +40bp in hikes expected over a 3-6m period - which now captures 1Q22.
  • USD/ZAR remains choppy within the 14.50-15.00 range, pegged between round number resistance the the 50, 100 & 200dmas to the downside.
  • Intraday Sup1: 14.7822, Sup2: 14.7386, Res1: 14.8615, Res2: 14.9138
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.