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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 Pressures Trendline Support - Powell & Budget In Focus
- USD/ZAR tracks USD/CNH lower at the open, but seems to be losing a bit of traction on a firmer USD while commodities trade mixed: gold +0.17, platinum -0.73%.
- Focus today on Powell and pre-budget jitters, although the picture is looking slightly better than expected given a revenue windfall and limited scope for aggressive taxation.
- Sell-side still fairly optimistic on ZAR in the EM space, looking to fade rallies, but with a cautious position-sizing approach given volatility in USTs.
- Trendline support drawn off the 16 Feb low keeping the cross in a short-term uptrend looks to be under pressure and may see spot pull back to 14.4158 Sup if we see a consolidated move through 14.6081 and risk sentiment remains favourable.
- Sup1: 14.6081, Sup2: 14.5126, Res1: 14.7158, Res2: 14.7667
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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.