Free Trial
BUNDS

German 2yr Yield lowest since 9th June

OIL PRODUCTS

Cracks Fall as EIA Show Lower Implied Demand

SOUTH AFRICA

Naidoo Does Not See SARB as Behind the Curve

CZECHIA

M2 Money Supply Rises By 6.2% in May

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access

USD/ZAR Probes Weekly High as USD Volatility Continues

SOUTH AFRICA
  • USD/ZAR trades +0.49% higher this morning, mirroring choppy price action in the BBDXY as markets digest yesterday’s upside surprise in US CPI.
  • On the local front we have mining data due in the first half of the session, followed by the main event – US PPI in the afternoon.
  • Global risk sentiment and the USD remain in charge of price action in the cross, with the prior highs at 16.2706 looking vulnerable on additional USD strength.
  • Upside pressure in the cross is also reinforcing the case for a +50bp hike at the SARB meeting next week with 1x4FRA-Jiba3m spreads holding in the +45-48bp range.
  • USD strength also continues to weigh on SA’s terms of trade. Intraday Sup1: 16.0808, Sup2: 16.005, Res1: 16.2706, Res2: 16.3668
124 words

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.
  • USD/ZAR trades +0.49% higher this morning, mirroring choppy price action in the BBDXY as markets digest yesterday’s upside surprise in US CPI.
  • On the local front we have mining data due in the first half of the session, followed by the main event – US PPI in the afternoon.
  • Global risk sentiment and the USD remain in charge of price action in the cross, with the prior highs at 16.2706 looking vulnerable on additional USD strength.
  • Upside pressure in the cross is also reinforcing the case for a +50bp hike at the SARB meeting next week with 1x4FRA-Jiba3m spreads holding in the +45-48bp range.
  • USD strength also continues to weigh on SA’s terms of trade. Intraday Sup1: 16.0808, Sup2: 16.005, Res1: 16.2706, Res2: 16.3668