CANADA TO PUBLISH FISCAL UPDATE ON DEC. 16

MNI BRIEF: Inflation Expectations Tick Higher - NY Fed

MNI BRIEF: China Passenger Car Sales Up In November Y/Y

MNI BRIEF: Mexico Inflation Down To 4.55% In November

MNI China Daily Summary: Monday, December 9

MNI BRIEF: China To Strengthen Policy Easing In 2025: Poliburo

MNI:US OCT WHOLESALE INV 0.2%; SALES -0.1%

EZ/UK Bond Supply Calendar: Austria, UK Auction on Tuesday

MNI BRIEF: China Nov CPI Slows To 5-Month Low Of 0.2% Y/Y

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

USDZAR Extends Bounce From Monday’s Multi-Month Lows

ZAR
USDZAR has recorded a moderate uptick in recent trade, up 0.60% on the day at typing and having now recorded a ~1.5% bounce from Monday’s multi-month lows. The move does not appear to be headline driven but coincides with a further retreat in nominal and real yields. Moves in spot are likely corrective at these levels, with the recent break of support at 18.6945, the Oct 18 low, and the recent move through the 50-day EMA having strengthened the technical bearish picture in recent weeks.
  • Price remains below the aforementioned average, which intersects today at 18.8115 and is the initial resistance level to watch. The 18.00 handle and 17.9434, 76.4% of the Jul 27 - Oct 6 bull phase, mark downside support levels.
  • The local data slate is thin for the remainder of the week, with manufacturing production data the highlight tomorrow. Global themes will therefore remain the key drivers.
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.