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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.
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Free AccessMNI US Inflation Insight: Softer Housing Helps Ensure Dec Cut
MNI INTERVIEW2: Poland To Push For EU Defence Fund
USD/ZAR Trims Early Upside Following Lower CPI at 5.7% Y/Y
- USD/ZAR trades +0.15% higher this morning, trimming downside from yesterday's session on the back of a bid in the greenback this morning.
- The cross fell -0.58% yesterday, making a notable break through last week’s lows to reach an intraday low of 14.784.
- This morning’s softer CPI print likely reinforces the SARBs ability to make a cautious +25bp hike to avoid pre-emptively overtightening and hobbling the fragile recovery.
- However, Kganyago will likely still reiterate a hawkish pivot with markets closely monitoring potential for an acceleration in the pace of tightening over the coming months – although this is not the base case for now.
- Ramaphosa made minor tweaks to the covid-19 restrictions, but fell short of any meaningful changes or removing the state of disaster.
- Momentum remains bearish in the cross, with the next downside supports seen at 14.7634, followed by 14.6539 & 14.5639.
- Intraday Sup1: 14.784, Sup2: 14.6539, Res1: 14.8548, Res2: 14.9133
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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.