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

CHINA PBOC CONDUCTS CNY2 BILLION VIA 7-DAY REVERSE REPOS THURS

MNI: PBOC Sets Yuan Parity Lower At 7.1339 Thurs; -1.06% Y/Y

CHINA SETS YUAN CENTRAL PARITY AT 7.1339 THURS VS 7.1342

MNI BRIEF: Bank of Korea Keeps Policy Rate At 3.50%

MNI: BANK OF KOREA KEEPS POLICY RATE AT 3.50%: PRESS

Japan May Machine Orders -3.2% M/M

MNI JAPAN MAY CORE MACHINE ORDERS -3.2% M/M; APRIL -2.9%

EZ/UK T-Bill Calendar: 1/3/6-Month UKTB Auction on Friday

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

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

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

USDZAR Uptick Following US Data Short-Lived, Conditions Remain Bearish

ZAR
The brief uptick in the USD index on the back of the US data prompted an uptick in USDZAR to 18.50, though the pair has since reversed the move higher. Gains stand at 0.2% on the day with pre-Fed levels still some way off at 19.00 as we approach the holiday period.
  • Technically, a short-term bearish theme in USDZAR still dominates for now following last week’s sell-off which resulted in a breach of a number of short-term supports. A continuation lower would signal scope for a move towards 17.9434, 76.4% of the Jul 27 - Oct 6 bull leg. Initial resistance is at 18.6824, the 50-day EMA.
  • Gold is now on track to test the Dec 1 high at $2075.41, clearance here would then open the alltime intraday high at $2135.39 posted on Dec 4. The yellow metal is largely benefiting from the pullback in the dollar (in turn, likely triggered by month-end flows favouring USD sales due to Dec's sharp equity rally).
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.