Free Trial

USD/ZAR Sticky Around 15.00, Fed In Focus

SOUTH AFRICA
  • USD/ZAR trades flat to higher at the open with the greenback firming within the lateral range held since Thursday.
  • Focus still remains on the Fed this week and USD/ZAR trades in a wide range around the 15.00 handle.
  • Markets looking to gauge if Powell will downplay future rate hike expectations keeping the USD supported.
  • Slightly firmer bond markets should remain ZAR supportive, but local pressure on Eskom and political risks surrounding rising factionalism in the ANC are detractors.
  • New catalysts needed for USD/ZAR to break its range.
  • Intraday Sup1: 14.8168, Sup2: 14.7158, Res1: 14.9867, Res2: 15.1202
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

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.