ZAR may gain on stronger Chinese HSBC PMI: UniCredit

Quotes from UniCredit Research:

-The ZAR may gain on stronger Chinese HSBC PMI , but we remain bearish over the medium term here. We do not see big impact from the SA national budget at  12:00 GMT, as the interpretation of many small measures may not be a clear cut.

-We stay TRY bearish after the bigger CBRT cut in the o/n rate. USD-TRY will grinding higher, but this time more orderly than in the mid-February.