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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.
SOUTH AFRICA
- USD/ZAR trades +0.29% higher this morning, tracking early upside in the BBDXY.
- The cross moved through Friday’s highs, but fell short of a close above 15.80 as the greenback drifted lower into the close.
- Locals will be keeping an eye out for the release of the fourth state capture report this week detailing events at Eskom, the Treasury and investigations into the Free State Asbestos scandal, which could have positive political ramifications for Ramaphosa if Magashule is further implicated in corruption.
- Reports of extensive damage in KZN continue to filter through with economists voicing concerns over upside risks to food prices in the region.
- Price action remains in overbought territory in the daily chart with 15.80 & 16.00 being the next notable resistance points.
- Intraday Sup1: 15.6487, Sup2: 15.5840, Res1: 15.7331, Res2: 15.7965
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
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