Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Dollar continues to weaken in anticipation of monetary easing by the Fed and the DXY Dollar index has slipped to 95.943 overnight. The Euro has moved to above the 1.1400 level and is currently at 1.1414. The Rand…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Dollar continues to trade weaker on the prospect of Fed easing as markets are now pricing in 3 possible rate cuts. The Euro and Pound are both higher this morning at 1.1375 and 1.2750 respectively. US Treasury yields…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: President Ramaphosa’s SONA address last night was, by general consensus, full of dreams but little in the way of detail. The one positive was the confirmation that the Reserve Bank’s mandate would not change. The Rand did not react…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Fed kept the US interest rates unchanged within the target range of 2.25% to 2.50% as expected last night, however, they have opened the door for cuts in the future. Fed Chairman Powell highlighted the uncertainties in their…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: What a fickle thing sentiment is. We saw that yesterday as the focus, in Rand terms, shifted from our local politics to international heavyweights in the form of Mario Draghi and President Trump. For the first time in a…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand traded in a narrow range (14.7600/14/8200) yesterday as the South African markets were out of action while celebrating Youth Day. Another factor in the Rand sideways movement has been the cautious trading of the US dollar, before…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand traded in a 14.8100/14.9300 range yesterday with slight weakness coming when the US came into the market as the Turkish Lira and Rand came under pressure. The relatively quiet day for the Rand also echoed the quiet…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: Yesterday the Rand gave up all of the gains it made on Tuesday and this morning we are trading weaker at 14.9200. There appears to be no single factor that caused the Rand to slide like it did but…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand continued it’s recovery yesterday after opening the day at 14.8200, it closed the day at 14.6600. The Rand was supported by a weaker Dollar as well as good economic data out yesterday. Local manufacturing production grew…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand enjoyed the latest bout of risk-taking behaviour in the market, as we have seen the US dollar on the back foot and stock indices in the green all over the world. The US dollar slide has been…