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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 -0.12% lower this morning, tracking early price action in the BBDXY.
- The cross continues to evade a decisive push above the 15.50 mark and its 50 & 100dmas with rising terms of trade keeping the currency supported.
- Expectations for further SARB tightening will also be adding to ZAR support on the back of surging oil/natgas prices – adding risks to the SARB’s near and medium-term inflation forecasts. US PMI & ISM data will be eyed today ahead of NFPs tomorrow.
- Powell remained firm on the Fed’s commitment to a +25bp hike in March, despite Ukraine risks, but also kept the 50bp option on the table in case inflation developed above forecasts.
- USD/ZAR will continue to trade in line with global risk sentiment and commodity prices in the near-term, and remains caught within the 15.00-15.60 range, pending a more decisive breakout.
- Intraday Sup1: 15.2633, Sup2: 15.2155, Sup3: 15.1431, Res1: 15.4435, Res2: 15.4902
9x12 FRA-Jiba3m Spread
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.
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