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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.
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Free AccessMNI UST Issuance Deep Dive: Dec 2024
MNI US Employment Insight: Soft Enough To Keep Fed Cutting
MNI ASIA MARKETS ANALYSIS: Jobs Data Green Lights Rate Cuts
Rand Continues To Strengthen After USD/ZAR Rejected Key Resistance Earlier This Week
Spot USD/ZAR is easing off amid wider greenback weakness and last operates at 19.0793, nearly 1,000 pips lower on the day. The rate rejected resistance from 19.3301, the 76.4% retracement of the Jun 1 - Jul 27 sell-off twice in the recent weeks (Aug 15, Sep 6), which amplifies the significance of that level. On the flip side, a move through Aug 24 low of 18.3805 would signal potential for a deeper sell-off.
- Political risk premium related to the Lady R affair has arguably receded over the past few weeks, with South Africa seemingly successful in mending ties with the US. Latest press reports suggest that Pretoria is unlikely to expel the current US envoy, who made explosive allegations surrounding the docking of Russian Lady R ship in South Africa, which rattled local financial markets a few months ago.
- Eskom de-escalated loadshedding by one notch to Stage 5 and will publish the weekend schedule of power outages this afternoon.
- SARB Governor Lesetja Kganyago may speak later today.
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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.