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SOUTH AFRICA: South Africa Postpones Budget, Prompting Further ZAR Weakness

SOUTH AFRICA
EM BulletBulletEmerging Market News
  • "SOUTH AFRICA PARLIAMENT IS ADJOURNED, BUDGET DELIVERY POSTPONED" - BBG
  • "SOUTH AFRICA TREASURY WILL PRESENT BUDGET IN MARCH: DIDIZA"
  • "SOUTH AFRICA GOVERNMENT PLANS `URGENT' BRIEFING AT 3 P.M."
  • "SOUTH AFRICA LAWMAKERS ADJOURN PROCEEDINGS ON BUDGET REVIEW" 

USDZAR surging further on these headlines, now up 0.8% on the session and through both the 20- and 50-day EMAs. 18.6372, 1.0% 10-dma envelope, marks next resistance.

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  • "SOUTH AFRICA PARLIAMENT IS ADJOURNED, BUDGET DELIVERY POSTPONED" - BBG
  • "SOUTH AFRICA TREASURY WILL PRESENT BUDGET IN MARCH: DIDIZA"
  • "SOUTH AFRICA GOVERNMENT PLANS `URGENT' BRIEFING AT 3 P.M."
  • "SOUTH AFRICA LAWMAKERS ADJOURN PROCEEDINGS ON BUDGET REVIEW" 

USDZAR surging further on these headlines, now up 0.8% on the session and through both the 20- and 50-day EMAs. 18.6372, 1.0% 10-dma envelope, marks next resistance.