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Daily Dose

Daily Dose

Good Morning,

On the wires…

  • Boris Johnson survives motion of no confidence
  • India could import even more Russian oil under new agreement
  • Man arrested for allegedly making off with R3m in pyramid scheme
  • Four cases of suspected measles detected in Gauteng, health minister calls for calm
  • Platinum miner Sidney Tobias breaks down barriers with Bulls
  • Fallen football chiefs Blatter and Platini face fraud trial

Quote of the day…

“To keep the body in good health is a duty…otherwise we shall not be able to keep the mind strong and clear.” – Buddha

The indicators…

Currency crackdown…

FXOne would like to thank Dave Gracey from Investec Bank for his contribution to the Crackdown today

  • Trading currencies these days is like trying to do tricks with a yo-yo tied to the end of a wet piece of spaghetti.
  • You just never know if the thing is going to fly off the end, and knock Granny Iris’s ashes of the mantelpiece, for the family cat to go and do its business on.
  • Or whether there is enough elasticity left in the spaghetti for the damn thing to snap back and hit you between the eyes.
  • Sentiment is swinging violently every day on no real new news.
  • For example, yesterday the ZAR traded much weaker in early Asia at 15.60. By the time Johannesburg opened it was at 15.50, and continued strengthening all the way down to 15.2900, only to snap straight back to 15.500 this morning, and no one really knows why any of this happened.
  • I fear it’s not going to get better any time soon.
  • There are just too many unwilling  pieces of the puzzle that are not quite lining up.
  • Has inflation peaked or do we still have some surprises to contend with?
  • Is the world headed for a recession or a soft landing?
  • Can commodities hold on to their gains or are they about to collapse in a heap?
  • Is our President compromised or a victim of sinister networks – or both?
  • Will Boris stay or go?
  • Can Eskom keep the lights on …..ok , we know the answer to that!
  • It’s enough to make a grown man cry, or at least take some time off.
  • For the younger readers this is what a yo-yo looks like.

On the radar…

  • All – Russia/Ukraine Crisis
  • SA – GDP Growth Rate QoQ & YoY
  • EU – S&P Global Construction PMI MAY
  • US – Balance of Trade

Did you know?

Chicken noodle soup can actually help relieve cold and flu symptoms

Have a great day,

Keaton,

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