Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The much-anticipated budget speech happened yesterday, and if you ignore the period between 14h00 and 15h00, one would have been excused to think the Rand had quite a stable day. The Rand reached a high of R14.3700 in the…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: D-day, or should we reference it as B-day is finally upon us. Yes, all roads from the past couple weeks have led us to the Budget speech which will happen this afternoon at 14h00. Minister Tito Mboweni has got…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: With the US out of the markets yesterday, the Rand traded within tight ranges but sagged out later in afternoon trade. This could be down to the sentiment currently in EM where EM has fallen out of favour and…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: Some optimism has sprung up over the weekend due to fact that the US and China announced plans to resume trade talks in Washington. This has boosted confidence that a trade deal can be struck after news filtered through…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand weakened sharply against the major currencies yesterday on continued concern over Eskom and the potential further fallout. The President tried to placate the unions over job losses related to the unbundling of Eskom. He conceded that there…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand stepped on the proverbial banana peel yesterday, as it slipped back to the R13.80 levels against the US Dollar. The reason for this is two-fold, with the US dollar strengthening for the 9th straight session and the…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand stepped on the proverbial banana peel yesterday, as it slipped back to the R13.80 levels against the US Dollar. The reason for this is two-fold, with the US dollar strengthening for the 9th straight session and the…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand traded in a very narrow range last week Friday, as the after effects of the State of the Nation speech hardly affected the markets. This is more of an indication that the President kept to the script…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The Rand weakened yesterday as the EM push from the past couple of weeks seems to have run out of puff. We have seen the dollar stronger this morning on the back of a weaker Euro as growth…
Daily Market Report Good morning, Today’s market commentary from Andre Botha, Senior Currency Dealer at TreasuryONE: The rand traded in a very tight range yesterday as the data and event calendar was very light. The market hardly reacted to President Trumps state of the Union address with the US dollar trading slightly stronger. Trump did…