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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.
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Free AccessChina Boosts Trade With Africa; Factional Tensions on the Rise
- Local yields continue to track lower in 2Y & 10Y tenors, buoyed by favourable global risk sentiment and an upside beat to China's Caixin PMIs.
- 2Y continues to drift towards 4.50, 10Y targets 8.70-8.67.
- USD/ZAR tracks USD/CNY lower towards the underside of the lateral range held since 21 dec at 14.5610 as China boosts cross-border Yuan settlements and highlights increased trade with Africa for 2021.
- Move through 14.55 opens up 18 Dec low at 14.5170 and round number support at 14.50, but failure to break lower keeps the cross pegged in its range.
- Limited local catalysts leave global factors in the driver's seat
- but with the ANC celebrating its birthday on 8 Jan, factional tensions are expected to rise in the lead up to SG Magashule's court appearance (Feb 19).
To read the full story
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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.