We have opened weaker at 15.0835 this morning after China put a dampener on the trade talks this week. 2019-10-07

print

We have opened weaker at 15.0835 this morning after China put a dampener on the trade talks this week. 2019-10-07

Published Date: 2019-10-07 | Source: TreasuryONE | Author: TreasuryONE Dealing

Friday's US employment data which had the payrolls number miss expectations but showed unemployment at a 50 year low of 3.5% saw the Dollar DXY index slip from it's 99.667 high but boosted US stock markets. The DXY is currently at 98.80 with the Dollar trading at 1.0981 against the Euro and 1.2329 against the Pound. The Rand surged on Friday to almost 15.0100 levels before closing at 15.0400.

We have opened weaker at 15.0835 this morning after China put a dampener on the trade talks this week by stating that they will not be looking for a broad trade deal and will be keeping certain issues off the table. Asian stock markets have fallen today on the Chinese comments as well as the increasingly violent protests in Hong Kong and despite a strong close on Wall Street on Friday. The Shanghai and Hang Seng indices have both closed around 1.0% down while the S&P, Dow and Nasdaq were all up around 1.40% on Friday.

The global economic slowdown is keeping Oil on the backfoot at $58.30 while Gold is a touch higher at $1 505.30.

Currencies

USDZAR 15.0806
EURUSD 1.0979
EURZAR 16.5488
GBPUSD 1.2328
GBPZAR 18.5821
AUDZAR 10.1743
CADZAR 11.3153
CNYZAR 2.1084
ZARJPY 7.0829
CHFZAR 15.1382

Commodities

Gold 1 506.34
Plat 878.75
Plad 1 664.51
Rhod 5 190.00
Irid 1 470.00
Ruth 248.00
Copp 5 608.00
Brent 58.11
Gold ZAR 22 705.21
Plat ZAR 13 245.49