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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 China Daily Summary: Monday, November 25
ZAR Dials in on GDP & Brewing Political Headwinds
- USD/ZAR opens lower on a slightly softer Greenback after peaking at 15.5726 in yesterday's session.
- Commodities trading slightly firmer: Gold +0.68%, Platinum +1.08% and T40 dipping slightly -0.21%, amid mixed APAC sentiment.
- Platinum seeming a bit better supported around $1,100 vs gold looking slightly vulnerable.
- FI rout yesterday hurt ZAR with the SABO index still showing outflows holding apace, but may start to look a bit more attractive at these valuations once we see a normalisation in Treasury yields/volatility.
- Local political scene starting to look a bit messier as the factional split in the ANC becomes clearer over ZUMA & PP Mkhwebane – Magahshule starting to impose his will on the party more and Ramaphosa appearing hamstrung.
- Magahule's 'step aside deadline' (1-2 weeks' time) will be a major pivot point for the party. GDP in focus today, with a better than expected print likely to be ZAR-supportive.
- Intraday Sup1: 15.3455, Sup2: 15.2279, Res1: 15.5726, Res2: 15.6625
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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.