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 +0.25% higher this morning, tracking early price action in the BBDXY.
- The cross rose +0.42% yesterday, failing to establish a new weekly low as the return of Eskom load-shedding dented sentiment – reminding markets of the gloomy energy supply outlook for 2022.
- Gains in platinum group metals yesterday supported SA’s terms of trade, but the index had dropped -5.91% from its highs on 26 Nov with gold prices faltering.
- USD/ZAR price action is now retesting the underside of the 100dma at 15.40, with a close above the average adding bullish inputs to the cross, while a close below 15.2120 would bring the 21 Jan lows just shy of 15.00 back into play.
- US equities eked out another gain, but slowed slightly vs the prior sessions.
- USD/ZAR should continue to trade in line with global risk sentiment going into US ISM, PMI and NFP data today and tomorrow.
- Intraday Sup1: 15.2120, Sup2: 15.1438, Res1: 15.4435, Res2: 15.5230
USD/ZAR 1m RRs
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