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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.
SOUTH AFRICA
- USD/ZAR trades +0.06% higher this morning, mirroring early price action in the BBDXY.
- The cross rose +0.54% yesterday in mixed risk conditions, briefly testing 14.80 before closing around 14.75.
- The technical break through the post-SARB move lower triggered the upside move as the shine starts to slowly come off ZAR in line with narrower terms of trade. With limited data on the agenda, the cross should trade in line with global risk sentiment today.
- USD/ZAR confirmed a bearish death cross on the daily chart this week (50dma crosses 200dma) that typically signals a more robust bearish trend.
- Key resistance is defined at 14.85 & 14.99, while 14.50 & 14.3667 are major supports.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
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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