Daily Forex Market Wrap 2019-10-08


Daily Forex Market Wrap 2019-10-08

Published Date: 2019-10-09 | Source: Stephen Gunnion | Author: TreasuryONE

The ZAR opened the day on the front foot and tested below 15.10 before trade talks between the US and China took center stage once again. Chinese Foreign Ministry Geng Shuang commented that people should keep an eye out for the Chinese reaction on the blacklisted entities over the alleged human rights activities. This spooked markets over whether a trade truce could be reached between the two economic powerhouses this upcoming weekend. A sell-off in emerging market currencies led to the ZAR losing ground during the afternoon while Turkey was still suffering from its own hangover over the Northern Syria tensions. Gold benefited from slight risk-off play and gained nearly 0.8% as it settled above $ 1,500. The pound and euro both remained relatively flat while Brent crude was slightly softer at $58.10. The market focus remains on Wednesday's Fed minutes but the trade talks could overrule this if it heats up towards the end of the week. Brought to you by TreasuryONE.


USDZAR 15.2502
EURUSD 1.0955
EURZAR 16.6983
GBPUSD 1.2214
GBPZAR 18.6173
AUDZAR 10.2659
CADZAR 11.4408
CNYZAR 2.1336
ZARJPY 7.0099
CHFZAR 15.3470


Gold 1 503.27
Plat 884.22
Plad 1 645.54
Rhod 5 140.00
Irid 1 470.00
Ruth 248.00
Copp 5 650.25
Brent 58.07
Gold ZAR 22 931.37
Plat ZAR 13 487.27

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