Daily Market Wrap – 10 June 2021

Rand Update

After losing a fair bit of value late yesterday, the rand claws back most of its losses during the day. The rand gaining 1.2% for the day, now trading back in line with most of its peers over the past week. The current account print showed that the high metal prices remain an important factor, as exports remain high. The US May inflation print did little to hurt the rand as local bond yields continue to remain attractive.

Commodity Update

Commodities have remained fairly flat, as the continued high metal prices still help the rand to remain positive. Gold is still hovering around the $1,890, not much up from this morning. Platinum and Palladium are both slightly softer, $1,1143 and $2,767 respectively. The price of oil remains buoyant as both WTI and Brent crude trades above. $70.00.

International Update

The jump in consumer prices for May did little for the dollar’s cause, as the dollar continued to trade range-bound after the print. The euro also remained flat after ECB President Christine Lagarde confirmed that the union will keep interest rates on hold, as many expected. The US 10yr yield has been mostly unchanged today and remains at 1.49%. Equities are up in the US with all three major indexes up after the open. The Dollar index is still bouncing around the 90.00 levels, as the euro and pound continue to trade sideways.

Currencies and Stock Markets

EUR-USD    1.2170

EUR-ZAR    16.5881

GBP-USD    1.4145

GBP-ZAR    19.2801

AUD-ZAR   10.5526

CAD-ZAR    11.2628

CNY-ZAR    2.1306

ZAR-JPY     8.0325

CHF-ZAR    15.2107

USD-AOA    645.53

R186            7.11%

US 10 Year  1.49%

JSE              -0.07%

FTSE            0.09%

S&P 500      0.44%


Gold – $1 887.95

Plat – $1 136.60

Plad – $2 755.50

Rhod – $21 490.00

Irid – $6 290.00

Ruth – $768.00

Copp – $9 808.50

Brent – $72.47

Iron Ore – $210.19

Coal API4 – $114.50

Gold ZAR – R25 728.79

Plat ZAR – R15 489.47

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