CANADA MAY CPI +2.9% YOY VS FORECAST +2.6%, PRIOR 2.7%

MNI: Bowman Warns Of Fed Divergence With Other Central Banks

MNI BRIEF: China To Empower AI For Economic Growth - Li Qiang

MNI China Daily Summary: Tuesday, June 25

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: Lithuania Synd; UK Auction Wednesday

MNI: US CONF BOARD CONSUMER CONFIDENCE 100.4 IN JUN V MAY 101.3

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

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

USDZAR Pierces 50-Day EMA and Nov 10 Key Resistance

ZAR
USDZAR gains have exceeded 1% on the day as the most recent uptick in the greenback and pullback in both equities and gold following the US data bolsters upward momentum. The pair pierced the 50-day EMA at 18.7119 earlier in the session – an average which provided firm resistance earlier this month - and has now also breached key short-term resistance at 18.8057, the Nov 10 high. A more sustained break of this level could be a bullish short-term development and signal scope for a stronger recovery towards 19.2710, the Oct 26 high.
  • Domestically, Eskom matters remain a concern as the energy supplier was forced to ramp up loadshedding to Stage 4 until further notice. Meanwhile, parliament backed a resolution urging the government to sever diplomatic ties with Israel, which may act as another source of tension in relations with the US.
  • Though CPI data crossed above expectations, sell-side are not expecting this to have any material impact on tomorrow’s SARB rate decision (See more here). Our full preview of that decision can be found here.
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.