FREELAND: CANADA WON'T ESCALATE OR BACK DOWN ON US TRADE FIGHT

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI: PBOC To Aim To Drive Inflation Higher- Advisors

MNI: China To Issue More Bonds As Stimulus Targets Consumption

MNI BRIEF: China Nov M1 Decline Narrows, M2 Slows

EZ/UK T-Bill Calendar: 8/13/28/50-Week BTF Auction on Monday

EZ/UK Bond Supply Calendar: 4.125% Jul-29 Gilt Due on Tuesday

MNI: CANADA OCT WHOLESALE SALES +3.3%; EX-AUTOS +0.5%

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

ZAR: Rand Marginally Firmer, Familiar Tech Levels In Play

ZAR
EM BulletBulletGlobalEmerging Market NewsRegion

Spot USD/ZAR trades at 17.6200, down 350 pips on the session, with South African data coming up later in the day. Familiar technical levels remain in play, with bears setting their sights on Sep 30 low/round figure of 17.0356/17.0000, while bulls keep an eye on the 50-EMA at 17.7160.

  • SAGB yields sit below neutral levels, but by negligible margins. South Africa's 10-year breakeven inflation rate is steady at 5.45%.
  • The aggregate BBG Commodity Index is a tad firmer on the day; the precious metals subindex is little changed at typing.
  • Statistics SA will release mining production data at 10:30BST/11:30SAST, with manufacturing output data coming up at 12:00BST/13:00SAST.
  • In the grand scheme of things, US CPI data will steal the limelight today, with participants trying to figure out the future trajectory of Fed monetary policy.
130 words

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.

Spot USD/ZAR trades at 17.6200, down 350 pips on the session, with South African data coming up later in the day. Familiar technical levels remain in play, with bears setting their sights on Sep 30 low/round figure of 17.0356/17.0000, while bulls keep an eye on the 50-EMA at 17.7160.

  • SAGB yields sit below neutral levels, but by negligible margins. South Africa's 10-year breakeven inflation rate is steady at 5.45%.
  • The aggregate BBG Commodity Index is a tad firmer on the day; the precious metals subindex is little changed at typing.
  • Statistics SA will release mining production data at 10:30BST/11:30SAST, with manufacturing output data coming up at 12:00BST/13:00SAST.
  • In the grand scheme of things, US CPI data will steal the limelight today, with participants trying to figure out the future trajectory of Fed monetary policy.