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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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Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
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 In Retreat As Local Yields Tick Off Lows, Commodity Space Strength Moderates
Spot USD/ZAR is gaining altitude, with commodities losing some strength and local-currency bond yields ticking off lows. The upswing in the rate has outpaced the parallel uptick in the BBDXY index, with USD/ZAR printing two-month highs as a result. The pair last operates at ZAR17.7330, approaching resistance from Dec 13 high of ZAR17.7601.
- Commodity complex strength has moderated, with the BCOM Index trimming its initial gains. The precious metals subindex is also struggling to re-test session highs.
- Local-currency bonds have eased off session highs, with South Africa's 10-year inflation breakeven rate last seen at 5.99%.
- Looking ahead, all eyes are on President Cyril Ramaphosa's State of the Nation Address, due at 19:00SAST on Thursday. Contrary to earlier expectations, the widely touted Cabinet reshuffle may take place after the speech.
- On the data front, mining & manufacturing production figures will hit the wires tomorrow morning.
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.