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Global Macro
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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 AccessRand Extends Gains During Public Holiday
Spot USD/ZAR continues to trade on a heavier footing, extending recent losses in a low-liquidity environment, with local markets shut for a public holiday. The rate last deals at ZAR18.1737, down ~490 pips on the day. This supports bearish expectations of an imminent test of the psychological ZAR18.00 figure, which supported price action on two occasions in April. Conversely, bulls will try to engineer a rebound above the 20-EMA at ZAR18.8588.
- South African news flow is dominated by headlines surrounding the peace mission of African leaders to Ukraine and Russia. President Ramaphosa and other African leaders will speak with Ukrainian President Zelensky today, before heading to Russia for talks with President Putin.
To read the full story
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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.