The rand wilted to a 12-day low, as the currency’s 2021 rally ran into some turbulence, reports Reuters.
According to TreasuryONE there has been little in the way of the market providing much liquidity, keeping the rand trading in check in a narrow band of 10c. “We saw the rand touch the R13.80/$-level, but the move was fleeting. The local currency got knocked down to the current level of R13.72. The US dollar did weaken slightly in the last half of afternoon trading, which could have helped the rand track back down from the R13.80 level.”
In the commodities market, platinum was the biggest mover of the day as the metal gained almost 1.5% to last trade of $1,168. Gold lost some ground today and is trading around the $1,865 level, while palladium is trading at $2,759. The price of Brent crude continued its steady climb, rising another 1% to trade at $73.35 per barrel. Read.
In the global currency and equities markets the greenback flirted with breaking the 1.21 level this morning but was swiftly knocked back above the level, reports TreasuryONE. “As we have stated, the dollar is sliding a little in afternoon trade and is currently at 1.2125. The range in the dollar was not massive by any stretch of the imagination, which caused the market to trade sideways for most of the day.”
Equities have fallen out of bed in the New York session, which could indicate that some “risk-off” sentiment is in the market, according to TreasuryONE. “However, we believe the market will hold course for now, with Wednesday’s FOMC meeting being the main attraction for the week.”
Indicators as of 17:00
Currencies
USD-ZAR / 13.7149
EUR-USD / 1.2124
EUR-ZAR / 16.6230
GBP-USD / 1.4116
GBP-ZAR / 19.3542
AUD-ZAR / 10.5834
CAD-ZAR / 11.2986
CNY-ZAR / 2.1421
ZAR-JPY / 8.0185
CHF-ZAR / 15.2444
USD-AOA / 645.53
Equities and bonds
R186 / 7.14%
US 10 Year / 1.48%
JSE / 0.37%
FTSE / 0.41%
S&P 500 / -0.22%
Commodities
Gold / $1 865.09
Plat / $1 164.17
Plad / $2 756.85
Rho / $22 490.00
Irid / $6 090.00
Ruth / $758.00
Copp / $9 929.00
Brent / $73.39
Iron Ore 62.5% / $213.13
Coal API4 / $114.50
Gold ZAR / R25 561.24
Plat ZAR / R15 955.08
*Indicators brought to you by TreasuryONE
