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USDCAD TECHS

Still In A Bear Cycle

LATAM

Summary: USDBRL Extends Losses To Near 2%

AUDUSD TECHS

Needle Still Points North

US TSYS

Focus on Midweek BoC, ECB Policy Announcements

FOREX

EUR Crosses Come Under Pressure As ECB Beckons

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  • Energy expert Ted Blom says the blast at Eskom's Medupi Unit 4 will cost between R20-40bn to repair and over two years to return to operation
  • The exact number has yet to be quantified, but investigations are still ongoing - but 800MW will be taken from the grid while the repairs are ongoing, adding to load-shedding risks over the summer period
  • Notes funding for the repairs would depend on the assessment of insurance investigators and if there was liability Eskom would have to pay out of pocket for.