Free Trial

Pierces Key Support


Corrective Cycle Extends

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
FOREX: AUD, ZAR struck by political risk
-AUD sits at the bottom of the G10 pile as the political pressure on Australian
PM Turnbull showed no signs of abating overnight. While AUD/USD is yet to
revisit the year's $0.7203 lows, markets are clearly wary of the proximity of
government to either a snap election or further leadership trouble. Further
ministerial resignations could add weight to the situation.
-Emerging markets are broadly weaker, led by RUB and ZAR, with the latter being
struck by a Trump tweet overnight stating his government will look into recent
farm seizures, raising the risk that South Africa could be the next victim of
Trump's trade tariff policy. USD/ZAR remains higher, but has stopped short of a
break above yesterday's high.
-EUR trades generally softer despite largely positive PMI numbers, with EUR/USD
consolidating slightly after six consecutive sessions of gains. As a result, the
DXY is very modestly higher for the first time in five sessions.
-Market focus turns to ECB minutes, weekly US jobless data and new home sales
ahead of tomorrow's Jackson Hole policy symposium.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.