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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 Loses Ground Despite Recovery In Commodity Space
USD/ZAR has edged higher and last operates at ZAR18.1307, up ~230 pips on the day. From a technical standpoint, bulls look for gains towards Mar 21 high of ZAR18.6132 and Mar 8 high of ZAR18.7192. On the flip side, Mar 31 low of ZAR17.6993 provides a key near-term bearish target.
- Local-currency bonds have softened and last trade 4.5-5.6bp cheaper, with South Africa's 10-year breakeven inflation rate climbing to 6.51%, the highest level since December 5.
- The aggregate BBG Commodity Index has clawed back its earlier losses, with the precious metals index now up ~0.2%.
- The ANC over the weekend discussed options for managing government coalition, while Electricity Minister Ramokgopa presented an 18-month plan to alleviate the energy crisis.
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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.