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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 AccessZAR Assets Unmoved by Political Rumblings as Ramaphosa Tightens his Grip on Power
- Nasty little squeeze higher in USD/ZAR this morning on a bout of $ buying in line with higher US treasury yields.
- Interesting to see USD/ZAR decoupling somewhat from CNH price action in recent sessions, but more similar price action seen this morning.
- Local political rumblings yet to see a major effect on FI/FX & risk premia, but talk of cabinet reshuffles and RET split from the ANC are definitely factors to consider as Ramaphosa moves to cement his grip on power within the ANC.
- Positive momentum in the virus situation should support ZAR assets, provided some tangible follow-through on the updated rollout strategy is realised in the coming weeks.
- Broad risk sentiment likely the key price action catalyst today.
- Intraday Sup1: 14.5238, Sup2: 14.4746, Res1: 14.6173. Res2: 14.6790
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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.