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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.
ZAR
- USDZAR has extended lower following the inflation and retail sales releases. The pair has pierced support at 18.7739, the 50-day EMA, and given proximity to both the Fed and SARB rate decisions, bears will eye additional losses toward key support at 18.3805, the Aug 24 low, should there be a more sustained break of the aforementioned level.
- A backdrop of stronger precious metals as well as gains seen across major European equity indices is providing an additional tailwind to the rand, which is outperforming the majority of its EMEA peers.
- While headline inflation was in-line with expectations, core inflation crossed slightly above estimates. Meanwhile, retail sales in August were stronger-than-expected. Nevertheless, the SARB are still expected to hold at tomorrow’s meeting (https://roar-assets-auto.rbl.ms/files/55803/MNI%20...).
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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