Daily Forex Market Wrap 2019-07-11

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Daily Forex Market Wrap 2019-07-11

Published Date: 2019-07-11 | Source: TreasuryONE | Author: TreasuryONE Dealing

The ZAR traded down to 13.87 in an event filled day as investors hunt for higher yield and the Eskom headline about a possible debt restructuring supported the move lower. Our local R186 is trading at its lowest level this year with the yield currently at 8.04%. Gold, which rallied after the Fed minutes last night, lost ground and ends the day about $16/ounce lower than the intraday high while the price of Palladium dropped after testing $1,600. EURUSD has been fairly flat while the pound has remained under pressure.

Currencies

USDZAR 13.9316
EURUSD 1.1257
EURZAR 15.6749
GBPUSD 1.2543
GBPZAR 17.4656
AUDZAR 9.7171
CADZAR 10.6457
CNYZAR 2.0256
ZARJPY 7.7744
CHFZAR 14.0837

Commodities

Gold 1 411.21
Plat 825.32
Plad 1 562.00
Rhod 3 555.00
Irid 1 470.00
Ruth 251.00
Copp 5 924.50
Brent 66.91
Gold ZAR 19 650.53
Plat ZAR 11 492.31

Our daily forex view brought to you by the TreasuryONE Dealing Team

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