Trump threatened to "obliterate the Turkish economy" 2019-10-08

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Trump threatened to "obliterate the Turkish economy" 2019-10-08

Published Date: 2019-10-08 | Source: TreasuryONE | Author: TreasuryONE Dealing

The Dollar is largely unchanged against most currencies this morning with the exception of the Turkish Lira and to a lesser extent the Pound. Trump threatened to "obliterate the Turkish economy" if Turkey took any off limit actions against the Kurds in Northern Syria and this has seen the Turkish Lira weaken sharply.

The Rand is at 15.1570 this morning, slightly stronger than last night's close but off yesterday's best levels of around 15.0200. The Dollar is at 1.0975 against the Euro and 1.2295 against the Pound as markets await the release of the Fed's FOMC minutes tomorrow and the resumption of high level trade talks. Trump has blacklisted a further 8 Chinese tech companies overnight and this has seen a loss in risk appetite in markets.

Wall Street closed down across the board yesterday while Asian stocks have closed higher as they recover from Monday's losses. The local All Share index closed up 1.14% yesterday.

Oil is unchanged at $58.70 but Gold has lost ground and is currently quoted at $1 490.65 in the Far East.

Currencies

USDZAR 15.1393
EURUSD 1.0975
EURZAR 16.6070
GBPUSD 1.2297
GBPZAR 18.6075
AUDZAR 10.2094
CADZAR 11.3798
CNYZAR 2.1232
ZARJPY 7.0817
CHFZAR 15.2016

Commodities

Gold 1 491.00
Plat 879.63
Plad 1 666.36
Rhod 5 190.00
Irid 1 470.00
Ruth 248.00
Copp 5 685.10
Brent 58.70
Gold ZAR 22 561.35
Plat ZAR 13 310.30