Samsung Galaxy S25 shows why Honor is eating its lunch in SA
Lindsey Schutters
Subscribe & Follow
Advertise your job vacancies
Trending
Jobs
- Trainee Analyst Rosebank
- Credit Analyst Rosebank
Currencies stabilise as stock markets recover
7 Aug 2024
A comment from the Bank of Japan's deputy governor Uchida that the central bank would not raise rates while markets were in turmoil has led to a recovery in global stock markets and seen some calm returns to currency markets.
Source: Reuters.
The Nikkei is up around 3.0% this morning, the Hang Seng and the Shanghai are positive, while US futures are in the green. The dollar is a touch softer than the euro and the pound at 1.0932 and 1.2706, respectively, but the yen is 2.3% weaker at 147.80. The rand, which had closed at R18.49 last night, is currently trading firmer at R18.37 as risk sentiment improves and EM currencies all show some gains.
China's trade data once again disappointed as imports improved slightly, but exports missed expectations badly. Tomorrow's US jobless claims number will now be sharply in focus for confirmation of the weakening US labour market.
Gold firmer, oil pressured
Gold is trading marginally firmer at $2,394 after having retreated yesterday as risk appetite improved and equity markets recovered. Platinum and Palladium are both up around 1.0% this morning, but Brent crude remains on the back foot at $76.80.
Demand concerns remain the primary driver for the weaker oil prices.
Related
The Budget that never was: SA's political gridlock rattles investor confidence Katja Hamilton 19 Feb 2025 Dollar starts 2025 on a high Andre Cilliers 2 Jan 2025 Trump's approach to global trade: Market uncertainties rise Andre Cilliers 7 Nov 2024 The 2024 #MTBPS and other critical factors that could influence the market Andre Cilliers 28 Oct 2024 BOJ and PBoC keep rates unchanged, dollar on the backfoot Andre Cilliers 20 Sep 2024 Fed cuts by 50bps but with a less dovish outlook Andre Cilliers 19 Sep 2024 Canadian trade tariffs weigh on Chinese and commodity markets Andre Cilliers 27 Aug 2024 US data takes focus, People's Bank of China cuts rates, yen firms Andre Cilliers 25 Jul 2024
About Andre Cilliers
Andre is the Currency Risk Strategist at TreasuryONE. Andre's career in treasury spans more than 30 years. He has gained his extensive currency risk experience in both the banking and corporate arena. Before joining TreasuryONE, Andre headed up the treasury department for a Tier One German international bank in South Africa.
