“Currency, equity and commodity markets are all moving sideways at the moment as the signing of the trade deal looks like it could be delayed. Traders are in a cautious mode in the absence of any certainty of market direction.
The Dollar has firmed further against the Pound and Euro but has lost ground to safe-haven currencies like the Yen and Swiss Franc. The Dollar is currently quoted at 1.1060 against the Euro and 1.2843 against the Pound. The Chinese Yuan is back above the 7.0000 level at 7.0205 this morning.
The Rand is weaker on the risk-off mood and is quoted at 14.8450. Wall Street closed relatively flat yesterday while stocks in Asia are trading marginally in negative territory. The JSE All Share had a good day yesterday ending up 0.71%.
Gold has recovered a touch from yesterday’s lows on the trade deal concerns to be trading at $1 491.40 this morning.”