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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 -0.34% lower this morning, tracking early price action in the BBDXY.
- The cross fell -1.56% yesterday on the back of improved global risk sentiment coming from the US equity market as investors dived back into tech stocks – bolstering demand for risk proxy currencies like ZAR.
- Signs of a strong fiscal showing at the Feb budget should also lend support to ZAR in Feb, while terms of trade still remain at decent levels but just off last week’s highs.
- Steps towards the spectrum auction on March represent a positive step, but question marks remain over Telkom’s bid to halt the process.
- US ISM data will be the main international data point today ahead of NFPs on Friday, with markets expecting a slightly softer print at 57.5 vs 58.7 prior.
- USD/ZAR pulled back from its 100dma (15.7153) and is currently holding below the 50dma (15.3789).
- Intraday Sup1: 15.2660, Sup2: 15.2120, Res1: 15.4435, Res2: 15.5230
Citi SA Terms of Trade
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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