Free Trial
EQUITIES

Fall lower led by the cash open.

USDCAD TECHS

Remains Vulnerable

NATURAL GAS

TTF Falls Further as Low Demand Eases Supply Pressure

SILVER TECHS

Trend Needle Points North

AUDUSD TECHS

Northbound

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 Rallies as Eskom Confirms 6,000MW Pulled From Grid

SOUTH AFRICA
  • Eskom confirms that "Due to unlawful industrial action, Stage 6 loadshedding will regretfully be implemented at 16:00 until 22:00 this evening. Stage 4 will then continue to be implemented until midnight."
  • The load-shedding persists as labour strikes continue to disrupt operations. The CEO this morning warned that stage 6 load-shedding could be imminent as soon as today - so not too much of a surprise.
  • Unions have appealed to the public enterprises minister Gordhan to intervene – a move which usually works in union’s favour, according to News24.
  • USD/ZAR extends day's outperformance, putting the pair at 16.0494, the highest rate since June 22nd and narrowing the gap with next key resistance of 16.1867 - the Jun13 high.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.