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 -0.09% lower this morning, having made an early push towards the 15.00 handle.
- ZAR remains resilient to Ukraine volatility with risk flows diverting away from RUB amid elevated uncertainty.
- 1m USD/ZAR risk reversals have, however, started to tick higher as markets begin to question ZAR strength underpinned by firm commodities.
- Gold has moved to a new 7-month high amid global risk-off conditions, underpinning SA’s terms of trade which remain at decent levels.
- Opposition parties have taken aim at Ramaphosa’s Cabinet, calling for votes of no confidence in underperforming ministers, which will need to be monitored.
- US PPI data will be the big-ticket item today following last week’s upside surprise in CPI that precipitated extensive USD-side volatility.
- The cross remains within its fair value range (14.80-15.50), adding pressure on the 15.00 handle with the 200dma rising towards spot at 14.90.
- Intraday Sup1: 15.0693, Sup2: 14.9847, Res1: 15.2155, Res2: 15.2844
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