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Why MNI
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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 AccessUSD/ZAR Choppiness Around 15.00 Persists As $-Factors Dominate
- USD/ZAR looking shaky after trading choppily around the 15.00 handle, but failing to decisively break 14.90.
- A bear channel pattern drawn off 28 Jan highs on shorter-term time-frames has been broken to the topside, increasing chances of a move back higher - provided spot moves through 15.0617 resistance.
- USD/ZAR has been at the mercy of risk-on/off sentiment and trading choppily around the formation of a bullish inverted H&S pattern on the dollar index.
- Fiscal risks may also start to re-emerge in the lead-up to the Feb budget, with many concerned about increased taxation on an overburdened and shrinking tax base.
- Yesterday, issuance was set to remain constant for the 2020-21 period as outlined in the October 2020 budget. Sup1: 14.9078, Sup2: 14.77, Res1: 15.0617, Res2: 15.2116
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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.