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Market Snapshot: ZAR Falls 2%, Stocks Rise +2.64% as Gold Surges

SOUTH AFRICA
  • US equities seeing marginal weakness at the start of the session keeping risk sentiment in decent shape, despite risks surrounding the Ukraine crisis.
  • USD/ZAR trades +1.94% higher, holding just shy of the 15.50 mark and around its 100 & 50dmas with gold +1.34% higher but platinum lagging at -0.01%. TRY & ILS stand as the best CEEMEA performers thus far.
  • SAGBs trade +14.6-20bp higher in 10-30Y tenors, 10Y price action is pressuring 9.80 vs the Thursday highs at 9.86. 30Y is also just below the 10.60 handle, with Thursday’s highs at 10.627.
  • SA stocks +2.64% with miners leading the gains (Anglo American & Sibanye Stillwater +10-12%)
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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