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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.
SOUTH AFRICA
- Yesterday, Amplats and biggest unions agree to a new 5Y wage deal according to AMCU, which could be signed as early as this week (and effective from July).
- Amplats agreed to a pay rise of 1,100 ZAR a month in the first year, which will rise to 1,500 ZAR in the fifth year (BBG).
- South African prosecutors are planning more arrests in a corruption scandal that led to Zweli Mkhize’s resignation as health minister (BBG).
- USDZAR ticks higher this morning after finding a local low at 15.6150 earlier; however, momentum looks bearish in the near term and further CNY consolidation could continue to drive the rand higher.
- ST Support to watch on USDZAR stands at 15.50, followed by 15.2850 (100DMA),
- On the topside, key resistance to watch stands at 16.
Source: Bloomberg/MNI
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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