Daily Dose

We begin the week with disappointing data from China. China missed economist expectations for retail sales and industrial production. Japan also missed GDP forecast, on the downside.

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Daily Dose

After the “surprise” lower inflation print on Wednesday caused a sell-off the like of which we hadn’t seen since May as the last remaining inflation trades were unwound on the break below 16.4000. we hit a low of 16.1200 before the inevitable bounce.

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Daily Dose

Big news yesterday came in the form of softer-than-expected US inflation, which triggered a widespread rally in risk driven assets and a sell-off of USD. US consumer prices were unchanged on a monthly basis in July,

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Daily Dose

Today seems to be shaping up to be a very quiet trading session, with the broader market still in shock over Friday’s US nonfarm payrolls release that dampened talk of a potential recession and supported the case for more outsized Fed rate hikes in the coming months.

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Daily Dose

The local currency has also been helped by a weaker dollar ahead of this afternoon’s US job report, with the rand breaking through the 16.60/$ level this morning

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Daily Dose

So far, this week has progressed exactly as anticipated with price action extremely volatile with liquidity gaps abounding almost on an hourly basis. It has made market making even more interesting but definitely not dull

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Daily Dose

The currency market was largely uneventful throughout yesterday’s local trading session, with the rand mostly stuck around the mid-16.50s against the dollar

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Daily Dose

It’s a new month, well it started yesterday, but with a few normalised systems issues, a commentary was only at the back of my mind. On Friday the Rand managed to hit very close to the 16.35 support level with a low of 16.3850

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Daily Dose

On Friday, the rand traded to a low of 16.40 before importers could not resist the temptation of a strong recovery level. The end of a tough trading week and month end also contributed to the tame close of the rand.

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