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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 opens higher in line with broad-based risk-off across EM and a firmer Greenback.
- Powell's comfortability with the steepening of the US yield curve did little to soothe EM nerves, pushing USD/ZAR through the topside of its long-term bear channel pattern drawn off the 04 June-20 high, closing above the 50dma and key 15.2116 lateral resistance line – confirming a short-term bullish bias.
- Limited local catalysts on the agenda leaves the cross vulnerable to global risk sentiment for today's session with all eyes on NFPs this afternoon.
- Commodities trading mixed and stocks slightly higher: gold +0.06%, platinum -0.30%, T40 +0.47%.
- Intraday sup1: 15.2116, Sup2: 15.12, Res1: 15.4599, Res2: 16.6625
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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