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Takes Out 20-, 50-Day EMAs


Weak Global PMIs


Pierces 50-Day EMA


Eurodollar/SOFR, Tsy Option Roundup

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  • USD/ZAR trades lower at the open, retaining its bearish momentum from yesterday's session – supported by early USD weakness.
  • Lenient lockdown measures saw little impact on ZAR sentiment, however, further deterioration in conditions may see pressure on Ramaphosa to boost measures despite warnings from Economists that the economy cannot handle tighter measures.
  • The Magahsule issue has been kicked to the curb for a few weeks, but will continue to be a key focus as factional infighting is likely to reman prevalent.
  • Today we receive PMI, unemployment and vehicle sales data – all expected to show signs of moderation.
  • USD/ZAR price action is hovering just above oversold conditions on the RSI, but remain within its bearish trend with an eye on 13.6235 & 13.56 to the downside.
  • Intraday Sup1: 13.6780, Sup2: 13.6235, Res1: 13.7675, Res2: 13.8163
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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