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Sitting, Waiting, Wishing

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE Sitting, Waiting, Wishing It seemed that the Rand was in a post-Moodys hangover mode last week, where everything happened a little slower than normal. The Rand traded within in tight ranges on a very sparse data and event week. However, the Moody’s decision brought about positive sentiment in the market and we a believe…

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The Rand could be a bit, Moody

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE The Rand could be a bit, Moody The Rand has finally found some sort of consistency in March after the very bumpy rollercoaster ride of January and February and seems to have settled in the broader range of R14.10 to R14.50 looking for fresh direction. The last few weeks have been tough for the…

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The world economy in focus!

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE The world economy in focus! Over the past couple of years, we have seen the phrase Global Growth Concern enter the market, first spooking the market, and then seeping into the background before raising its head again.  The phrase came about after the Central Banks, which participated in QE, needed growth to be robust for them to…

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US-China trade talks back in focus

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE US-China trade talks back in focus So far this year has been a year of two months, with the Rand the best performing currency in January to the worlds worst performing EM currency in February. While the Rand had its own dramas during February, with the Budget Speech and load shedding to name…

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The clouds have lifted … for now

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE The clouds have lifted … for now The key event last week for South Africa and the Rand was the budget speech by Minister of Finance Tito Mboweni. Without risking flogging a dead horse we will not rehash the details of the address, but the overriding theme for the market was that the market…

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More volatility to come

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE More volatility to come! It is only the middle of February, and we have already seen two big Rand moves. The first was the Rand moving from R14.60 to R 13.20 at the beginning of the year, as EM became fashionable again, and then the latest move where the Rand gave away nearly…

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Things might get interesting!

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE Things might get interesting! What a January for the Rand recording its best trading in recorded history! We started the month on the back-foot with the Rand trading above R14.50 and ended the month within touching distance of R13.20. This about-turn was mainly done on the back of EM-sentiment as EM’s became the flavour…

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Could it be?

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE Could it be? The beginning of 2019, has a bit a deja vu to it if we compare it to the January of 2018. In both cases, we saw the Rand strengthen quite significantly in January, but the causes of the run are markedly different. In 2018 we had the wave of Ramaphoria…

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Rand range bound, but for how long?

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE Rand range bound, but for how long? The Rand has made an impressive start to the year, with the currency trading as low as the mid- R13.60’s after starting the year comfortably about the R14.50 level. The main reasons for the Rand rally have been analysed close to death now, with the dovish…

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What a start to 2019!

Weekly market report by Andre Botha, Senior Currency Dealer at TreasuryONE What a start to 2019! The Rand has started 2019 like a house of fire and is 3.5% stronger against the US dollar. The move is mainly the result of off-shore events, which makes this move sentiment driven, and as we all know sentiment can change at the drop of a hat. The two…