Free Trial
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.
SOUTH AFRICA
- USD/ZAR trades +0.06% higher this morning, broadly tracking mixed sentiment in the BBDXY.
- Yesterday’s session saw the cross close -0.16% lower with price action getting choppy around the expropriation without compensation vote, but failing to re-enter the bull channel pattern with sellers pushing the cross lower.
- Rejection of the bill was broadly expected, but is a major relief for SA – although the EFF have promised to continue pushing for the repossession of land.
- Covid cases marked a notable uptick from 6k to 13.1k overnight, and will need to be monitored as Ramaphosa is expected to discuss new restrictions shortly.
- Today’s focus will be on retail sales data – expected to decline m/m & y/y as economic activity continues to drag into year-end.
- The cross though continue to trade in line with global risk sentiment today with a break below 15.7657 likely to add bearish momentum to the cross with decent support below in the15.40-15.60 zone.
- Intraday Sup1: 15.7657, Sup2: 15.6638, Res1: 15.8888, Res2: 15.9742
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok