MNI: Japan Govt Keeps Economic Assessment, Ups Imports

MNI BRIEF: China Supports Globalisation Despite Turbulence

MNI: PBOC Net Injects CNY11.0 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1910 Tues; -1.46% Y/Y

MNI China Daily Summary: Monday, November 25

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22

MNI: UK NOV BRC SHOP PRICES +0.2% M/M, -0.6% Y/Y

MNI: JAPAN OCT SERVICES PPI +2.9% Y/Y; SEPT REV +2.8%

EZ/UK T-Bill Calendar: 2/3-Month ATB Auction on Tuesday

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

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

ZAR: Rand Weakens Amid Concerns Over Trump Tariffs

ZAR
EM BulletBulletEmerging Market News

Spot USD/ZAR last deals at 18.1400, around 800 pips above neutral levels. Bulls look for a clearance of Nov 14 high of 18.3951 followed by a move towards the 18.5 handle and Aug 5 high of 18.6850. Bears keep an eye on Nov 7 low of 17.2711.

  • The rand has been hit by contagion from other EM markets after US President-elect Donald Trump vowed to slap additional tariffs on imports from China, Mexico and Canada as one of his first Executive Orders after taking office on January 20. There is a sense of concern that measures against China, South Africa's largest trading partner, could have indirect consequences for Pretoria. Furthermore, South Africa could also eventually fall prey of the Trump administration's protectionist policies.
  • SAGBs have weakened across the curve, with South Africa's 10-year breakeven inflation rate ticking higher to 5.21% (while staying close to recent cyclical lows). The National Treasury holds a regular bond auction today.
  • The BBG Commodity Index is barely changed on the day, while the precious metals subindex has shed 0.1%.
  • South Africa's leading indicator improved to 113.9 in September from 112.8 prior.
182 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 last deals at 18.1400, around 800 pips above neutral levels. Bulls look for a clearance of Nov 14 high of 18.3951 followed by a move towards the 18.5 handle and Aug 5 high of 18.6850. Bears keep an eye on Nov 7 low of 17.2711.

  • The rand has been hit by contagion from other EM markets after US President-elect Donald Trump vowed to slap additional tariffs on imports from China, Mexico and Canada as one of his first Executive Orders after taking office on January 20. There is a sense of concern that measures against China, South Africa's largest trading partner, could have indirect consequences for Pretoria. Furthermore, South Africa could also eventually fall prey of the Trump administration's protectionist policies.
  • SAGBs have weakened across the curve, with South Africa's 10-year breakeven inflation rate ticking higher to 5.21% (while staying close to recent cyclical lows). The National Treasury holds a regular bond auction today.
  • The BBG Commodity Index is barely changed on the day, while the precious metals subindex has shed 0.1%.
  • South Africa's leading indicator improved to 113.9 in September from 112.8 prior.