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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.
SOUTH AFRICA
- USD/ZAR trades +0.03% higher this morning, treading water with the USD seeing a slight resurgent bid in early trading, having eased off yesterday’s highs.
- ZAR held up better than most of its CEEMEA peers yesterday owing to upside pressures in PGM prices supporting SA’s terms of trade. Gold and platinum stand +0.15-0.42% higher this morning, having trimmed gains on the back of a flip to risk-on in US equities.
- The Ukraine situation remains the primary driver of global markets, with analysts now looking for the next steps in the crisis and whether NATO territories will be drawn into a broader conflict.
- Western allies have shows an unwillingness to disconnect Russia from SWIFT, but imposed a broad package of sanctions.
- Focus in USD/ZAR is on the 50 & 200dma above at 15.44 for a breakout higher, while failure to do so should keep the cross in the 14.90-15.50 range.
- Intraday Sup1: 15.2633, Sup2: 15.2155, Sup3: 15.1431, Res1: 15.3663, Res2: 15.445, Res3: 15.5230
USDZAR 1m Risk Reversals Rising
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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