Daily Forex Market Wrap 2019-09-05

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Daily Forex Market Wrap 2019-09-05

Published Date: 2019-09-06 | Source: Stephen Gunnion | Author: TreasuryONE

Daily Market Wrap: The day started off with risk on sentiment dominated the markets and the ZAR trading to as lows as 14.73 for the first time since early Aug. The Pound has continued its bullish trend since trading at multiple year lows just a couple of days ago, as the developments in the UK parliament is digested as positive news for those opposing a now deal Brexit. Equities and EM's across the globe, apart from the ZAR, has been benefiting from the positive sentiment during the course of the day and we see the US markets opening with a strong bullish equity rally. The ZAR has possibly entered into a consolidation phase after the run down lower from the 15.40's and is likely the reason as to why it is trading on its own this afternoon. The price of gold has reacted to the risk on sentiment and is currently trading 2.3% softer for the day while Platinum is over 3% down. Brought to you by TreasuryONE.

Currencies

USDZAR 14.8529
EURUSD 1.1046
EURZAR 16.3966
GBPUSD 1.2326
GBPZAR 18.2983
AUDZAR 10.1126
CADZAR 11.2116
CNYZAR 2.0754
ZARJPY 7.2050
CHFZAR 15.0530

Commodities

Gold 1 512.50
Plat 951.01
Plad 1 555.03
Rhod 4 890.00
Irid 1 470.00
Ruth 248.00
Copp 5 776.85
Brent 61.69
Gold ZAR 22 453.76
Plat ZAR 14 118.22

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