VAST MAJORITY OF FOMC SAY PRUDENT TO SLOW QT FAIRLY SOON

BOC: IF THINGS EVOLVE AS EXPECTED, WILL BE APPROPRIATE TO CUT

BOC SAYS JUNE RATE CUT IS WITHIN REALM OF POSSIBILITIES

MNI BRIEF: Brazil Inflation 3.93% In March, Lowest In 9 Months

MNI Brief: China Targets Standards Update To Support Trade-ins

MNI BRIEF: Fitch China Outlook Downgrade Regrettable - MoF

MNI: US MAR TREASURY BUDGET -236.5B

US Treasury Auction Calendar

EZ/UK Bond Supply Calendar: 3/7/15+ Year BTP Auction Thursday

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

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

MNI BRIEF: Lawmakers Signal Tough Hearing For BOC's Macklem

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

ZAR Buoyed by US CPI & Local Reforms, Brushes Off Rising Caseload

SOUTH AFRICA
  • USD/ZAR trades -0.32% lower this morning, tracking early weakness in the greenback to return to the 13.50-13.50 zone.
  • Relatively muted US CPI, combined with strong domestic data and signs of energy sector reform, buoyed ZAR in yesterday's session and have filtered through into the bond market this morning.
  • Commodities also slighting higher this morning: gold +0.14%, platinum +0.23%.
  • Analysts heralding energy reform as a major positive over the medium-term, but reiterated that load-shedding is expected to dominate in the near-term with he situation becoming progressively worse.
  • Going over Mantashe's head with the larger threshold increase is a positive sign of reform frustration and decisive leadership from Ramaphosa – which many hope will be the watershed to more long overdue growth-inducing structural reforms.
  • Covid cases continue to rise, with SA now technically classified as being in its third wave. Tighter restrictions are becoming more likely in the next 1-2 weeks.
  • Intraday Sup1: 13.5111, Sup2: 13.4168, Res1: 13.6063, Res2: 13.678
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.