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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 AccessSAGB's Retrace 50%; USD/ZAR at the Mercy of Global Factors
- local yields open lower in line with improved risk sentiment.
- 10Y trading below 8.80 around the 50% fib at 8.76, 30Y holding marginally above 10.70 support.
- USD/ZAR continues to track broad risk sentiment, but outperformed regional peers during yesterday's session, closing the breakout gap despite a sharp drop in precious metals.
- Bearish hammer formed on the daily chart with yesterday's price action.
- Spot opens higher today, tracking USD/CNY price action as markets digest US stimulus developments.
- Inflows into SAGBs should support ZAR downside towards 14.50, provided global sentiment remains accommodative.
- Topside resistance at 14.7691 & 14.8275, RSI now pushed out of oversold territory at 32.34.
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.