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AUD

Faces Headwinds From USD & Iron Ore

JGB TECHS

(Z1) Bearish Trend Condition Strengthens

AUSSIE BONDS

Futures Flat Come The End Of Overnight Trade

NZD

Kiwi Stabilises After Sharp Sell-Off

US TSYS

J.P.Morgan Recommend 10-/30-Year Steepeners

US TSYS

Cheaper Again, Will Asia Buy The Dip?

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  • USD/ZAR opens +0.41% higher as softer risk sentiment out of APAC and a firmer BBDXY filter through into today's price action.
  • ZAR outperformed yesterday amid broad-based risk-on conditions, having sold-off sharply in recent weeks following a bout of social unrest.
  • USD/ZAR retested the 14.50 handle, but failed to hold below the level.
  • Today's focus will be on trade balance data – expected to remain flat at 54bn, keeping SA's terms of trade firmly in positive territory and ZAR supportive.
  • A better week for SAGBs has also bolstered ZAR this week, offsetting the rise in covid cases.
  • The covid situation remains uncertain with cases risking and falling in different areas, making to too soon to call a peak in infections.
  • Intraday Sup1: 14.5042, Sup2: 14.4098, Res1: 14.6577, Res2: 14.7583