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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 +0.11% higher this morning, tracking early price action in the BBDXY as the early bid on the greenback fades somewhat.
- The cross fell -0.17% yesterday with price action briefly dipping below 14.90 to fall just shy of last week’s lows at 14.858 before retesting 15.00 this morning on broad-based USD strength.
- USD/ZAR has been consolidating in the 14.85-15.06 range just beneath its 200dma as Russia-Ukraine negotiations move steadily along.
- Today’s focus will be on Russia’s response to concessions from Zelensky on neutrality & NATO accession in exchange for a ceasefire followed by dialogue on Crimea and separatist-held territories.
- 1x4 Fra-Jiba3m spreads have widened to +36bp from +32bp today on the back of Powell’s comments, while the bbg consensus remains for a +25bp SARB hike on Thursday.
- Intraday Sup1: 14.8548, Sup2: 14.7634, Res1: 14.9935, Res2: 15.0603
1x4 FRA-Jiba3m
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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