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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.
SOUTH AFRICA
- ZAR/JPY takes a turn below 8.00 post FOMC as risk sentiment sours and covid cases in SA jump higher to >13k.
- The cross is up 45.84% from the March 2020 lows, and may look to eye the 23.6-38.2% Fibonacci retracement levels should conditions continue to sour in SA in the near-term and global risk aversion gain more traction
- Major trendline support seen at 7.3352, marginally above the 38.2% fib level.
- A deeper correction towards the 50% level seems less likely, however, as markets still remain constructive on SAGB & ZAR fundamentals over the medium-term with third wave risks in SA being a near-term detractor.
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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