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Loadshedding Remains Suspended, Broader Focus Turns to Election Year

SOUTH AFRICA
  • Loadshedding remains suspended over the holiday period, with the first phase of shedding set to resume from Friday at 4pm local time, after being suspended entirely from Dec22. Eskom are still to monitor the situation, and will communicate any significant changes.
  • News24 writes that 2024 could be a subdued year for the JSE stock index, with coalition jitters largely to blame. The piece writes that markets may show signs of concern over a potential coalition - with ANC-EFF or DA-IFP coalitions a real possibility.
  • Early trade in USD/ZAR sees the pair contained within yesterday's range. USD/ZAR gained yesterday on little news, with thin liquidity likely squeezing the pair in the USD's favour. The 200- and 50-dmas remain an anchor at 18.6716 and 18.6514 respectively.

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