Free Trial

Rand Firms Alongside Yellow Metal

ZAR

Spot USD/ZAR last changes hands at 18.3540, down 350 pips on the day. The pair stays under pressure after the 50-DMA crossed below the 200-DMA. From a technical standpoint, bears look for a move through Dec 29 low of 18.2550. Conversely, bulls see May 8 high of 18.6764 as their initial target.

  • The composite BBG Commodity Index has added 0.9%, with the precious metals subindex up ~1% as gold sits around $15/oz. higher on the session.
  • SAGBs have firmed across the curve,with 10-year breakeven inflation rate dropping to its lowest levels in two months (6.72%).
  • Statistics SA will release March retail sales data at 12:00BST/13:00SAST, with the real number expected to print at -0.6% Y/Y.

To read the full story

Close

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.