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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 AccessMNI US OPEN - ECB Set to Deliver Third Consecutive Cut
MNI China Daily Summary: Thursday, December 12
USD/ZAR Pierces Thursday's High Amid Thinner Liquidity
USD/ZAR creeps higher amid holiday-thinned liquidity, piercing yesterday's highs amid negative risk sentiment. South African Rand is one of the worst performers in the EMEA space, with the news that Eskom ramped up power cuts likely adding pressure to the currency.
- The rate last deals at ZAR17.6645, up 1,685 pips on the day. A clearance of Dec 13 high of ZAR17.7601 would shift focus to the 61.8% retracement of the Oct 13 - Nov 30 downleg/Dec 1 high at ZAR17.9384/17.9596. Conversely, bears look for losses past Nov 30 low of ZAR16.8980.
- The aggregate BBG Commodity Index sits almost 1% lower on the day, with the commodity complex coming under pressure from broader risk aversion. The precious metals subindex has shed ~0.7%, printing its worst levels in more than a week.
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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.