Trial now
MNI

Test, Please Ignore

EUROZONE ISSUANCE

EGB Supply for W/C Jul 26

USDCAD TECHS

Pullback Considered Corrective

US TSYS SUMMARY

What a Short, Strange Trip It's Been

GLOBAL POLITICAL RISK

Pfizer, Moderna Jabs Retain High Trust; AZ, Sputnik Lower

AUDUSD TECHS

Trend Indicators Remain Bearish

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  • USD/ZAR trades flat to higher around the open, mirroring early price action in the BBDXY.
  • The cross filed to move below 14.1421 support in yesterday's session with buyers emerging into the back end of the session.
  • Focus today will be on the national coronavirus council for tighter restrictions on Gauteng and possibly the Western Cape.
  • Cases jumped to above 17k overnight, adding weight to calls for tighter measures as Gauteng hospitals become overrun.
  • Additionally, suspended SG Magahsule will face off with the ANC in court today and tomorrow – attempting to get his suspension by the NEC nullified and his unilateral suspension of Ramaphosa validated.
  • Moves by the court to affirm Magahule's suspension will be likely construed as ZAR positive in the market with Ramaphosa tightening his grip on power within the ANC as Magahsule's wanes.
  • Intraday Sup1: 14.1421, Sup2: 14.0768, Res1: 14.3667, Res2: 14.5198