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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 Macro Weekly: Politics To The Fore
MNI Credit Weekly: Le Vendredi Noir
ZAR Buoyed by US CPI & Local Reforms, Brushes Off Rising Caseload
- USD/ZAR trades -0.32% lower this morning, tracking early weakness in the greenback to return to the 13.50-13.50 zone.
- Relatively muted US CPI, combined with strong domestic data and signs of energy sector reform, buoyed ZAR in yesterday's session and have filtered through into the bond market this morning.
- Commodities also slighting higher this morning: gold +0.14%, platinum +0.23%.
- Analysts heralding energy reform as a major positive over the medium-term, but reiterated that load-shedding is expected to dominate in the near-term with he situation becoming progressively worse.
- Going over Mantashe's head with the larger threshold increase is a positive sign of reform frustration and decisive leadership from Ramaphosa – which many hope will be the watershed to more long overdue growth-inducing structural reforms.
- Covid cases continue to rise, with SA now technically classified as being in its third wave. Tighter restrictions are becoming more likely in the next 1-2 weeks.
- Intraday Sup1: 13.5111, Sup2: 13.4168, Res1: 13.6063, Res2: 13.678
To read the full story
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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.