SARB
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SARB hikes rates by 25bps; 50bps expected
It appears SARB could have gone with 50bps, but held back due to ongoing load shedding and the hit it may take on the economy.
SARB continues its rate hike cycle by surprising markets with a 75bps hike
Earlier in the week, South Africa released its June CPI at 7.4% YoY vs 7.2% YoY expected and a June reading of “only” 6.5% YoY.
USD/ZAR near key technical level ahead of SARB
If the SARB raises rates less than expected or if the statement is less hawkish than expected, the pair may break higher.
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USD/ZAR pushing 5-month lows ahead of SARB
Whether the central bank raises rates by 25bps or 50bps may depend on the outcome of the CPI report!
Inflation fears hitting Emerging Markets Currencies
If the US Dollar remains strong, emerging markets may continue to feel the pinch
EM Rundown: Could USDTRY bulls quit cold turkey?
Central banks will be traders’ central focus in the G10 this week, with monetary policy “decisions” out of the Federal Reserve, Reserve Bank of New Zealand and Bank of Japan, but there will also be some potentially important central bank meetings in the emerging world as well. While not too many readers are trading the currencies of Hungary, Nigeria, Ukraine or Israel (each of which features a central bank meeting this week), there will be central bank updates from more widely-followed nations like Russia, South Africa, and Turkey.
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