Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: As we expected the Rand is trading in very narrow bands as low liquidity conditions continue to rule the roost. The Rand traded in a 10 cent band for most of yesterday as we get the sense that the…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: As we stated yesterday we expect the Rand to continue to trade in narrow bands as there is no real directional bias in the market at the moment. We have seen the Rand reach a high of R14.11…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand movement yesterday could only be described as lacklustre as the local unit briefly flirted with the R13.90 level before settling the day just above the R14.00 level. In a data and event absent day the slightly weakening…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The curious movement in the Rand in the past couple of days, where the Rand strengthed against the backdrop of lower global growth and market uncertainty, has finally caught up with the Rand. The Rand also finally buckled under…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: To say that the Rand had a fantastic day yesterday would be an understatement. The Rand finally broke below the R14.00 level on the back of international yield-seeking behaviour as both the US and Eurozone Central Banks kept…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: Despite the IMF’s lowering of the global growth for 2019, the Rand is currently on the front foot and looking push through the R14.00 handle against the US dollar. This goes against the notion that a negative view of…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: A very subdued trading session yesterday with the Rand drifting sideways for most of the day, trading in a very tight 10 cent trading range. It seems that the market has found a sweet spot where the Rand is…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: It is a wet and cold start on this Monday morning in Gauteng. All the grey clouds over Gauteng is similar to the grey clouds still hanging over Brexit. UK Prime Minister May struggles to convince the public and…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand traded in a very narrow band yesterday as the market seems to be taking a breather and traded in a 10 cent range for much of the day. The key driver at the moment in the market…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand drifted sideways yesterday as yesterday was more or less treated as no news is good news sort of a day. Minister of Public Enterprise stated that ESKOM is working hard to ensure that there would be no…