TreasuryONE



Repo rate at 6.50% - unchanged 2019-09-20

Repo rate at 6.50% - unchanged 2019-09-20

The Reserve Bank kept the repo rate at 6.50% yesterday and highlighted underlying risks in government finances as well the uncertain credit ratings outlook as reasons...

The rand move stronger against the dollar after repo decision 2019-09-19

The rand move stronger against the dollar after repo decision 2019-09-19

The rand did not really move in the early session after the FED cut rates by 25 basis points on Wednesday night.

Look out for the Bank of England and Swiss National Banks interest rate decisions. 2019-09-19

Look out for the Bank of England and Swiss National Banks interest rate decisions. 2019-09-19

The Fed cut interest rates by 25 basis points as expected yesterday and did not rule out future cuts but was less dovish on the future...

The market on tenterhooks before the FOMC interest rate decision later on tonight 2019-09-19

The market on tenterhooks before the FOMC interest rate decision later on tonight 2019-09-19

The Rand and other markets were pretty subdued due to everybody being on tenterhooks for the FOMC interest rate decision later on tonight. We expect some...

The market is anticipating that the FED will cut interest rates by 25bpa tonight 2019-09-18

The market is anticipating that the FED will cut interest rates by 25bpa tonight 2019-09-18

The equity markets in Asia is a mixed bag this morning. The US equity markets closed up very slightly yesterday after being down for most of...

The price of Brent Crude is down 6% 2019-09-17

The price of Brent Crude is down 6% 2019-09-17

The risk off environment continued throughout the trading session as the ZAR traded most of the day slightly on the backfoot.

Global inflation concerns fuelled by longer than expected repairs of oil fields 2019-09-17

Global inflation concerns fuelled by longer than expected repairs of oil fields 2019-09-17

News that the Saudi oil processing facility will take longer to come on stream has fuelled global inflation concerns and the rising geopolitical tensions in the...

The Rand rallied stronger in the final minutes of SA trade 2019-09-16

The Rand rallied stronger in the final minutes of SA trade 2019-09-16

The Rand although on the back foot for most of the day, failed to break convincingly above the R14.70 level, despite the "risk-off" sentiment that came...

Poor economic data out of China - lowest in 17 years 2019-09-16

Poor economic data out of China - lowest in 17 years 2019-09-16

The drone attacks on the Saudi Arabian oil facilities over the weekend and the subsequent geopolitical unease have triggered a risk off move in markets. Poor...

Today's forex view 2019-09-13

Today's forex view 2019-09-13

The ECB cut rates by 0.10% as expected yesterday and ECB President Mario Draghi announced an extended bond buying programme to stimulate the European economy. We...

Daily Forex Market Wrap 2019-09-12

Daily Forex Market Wrap 2019-09-12

An event driven day ends with the ZAR at its strongest levels since the end of July. The ECB was undoubtedly the major market mover.

Today's forex view 2019-09-12

Today's forex view 2019-09-12

The risk on rally continues after China announced that they would place orders for US agricultural products before trade talks resume and would exempt tariffs on...

Daily Forex Market Wrap 2019-09-11

Daily Forex Market Wrap 2019-09-11

The Rand lost some of the ground it has gained over the last few trading sessions, sliding back above R14.70 from testing R14.61 in early trade.

Today's forex view 2019-09-11

Today's forex view 2019-09-11

Markets, with the exception of bonds, are treading water as they await the ECB meeting tomorrow. The Dollar is largely unchanged this morning at 1.1050 against...

Daily Forex Market Wrap 2019-09-10

Daily Forex Market Wrap 2019-09-10

The ZAR experienced much of the same price action than yesterday, firming during the course of the day.

Today's forex view 2019-09-10

Today's forex view 2019-09-10

Global currencies and stock markets are drifting sideways this morning while bond yields have climbed on positive trade talk news and a cautious risk on sentiment....

Today's forex view 2019-09-09

Today's forex view 2019-09-09

Markets in the Far East have been trading in very narrow ranges as we head into the new week. Lower than expected jobs data in the...

Daily Forex Market Wrap 2019-09-08

Daily Forex Market Wrap 2019-09-08

The ZAR found itself quite happy in the range between 14.70 and 14.90 for the moment as the week drew to a close.

Today's forex view 2019-09-06

Today's forex view 2019-09-06

Overnight we saw the Dollar firm against the EM basket of currencies as well as the Euro and Pound as US economic data out yesterday gave...

Daily Forex Market Wrap 2019-09-05

Daily Forex Market Wrap 2019-09-05

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...

Today's forex view 2019-09-05

Today's forex view 2019-09-05

News that Chinese and US negotiators will be meeting in Washington early next month has further boosted the recent risk on sentiment and we have stocks...

Daily Forex Market Wrap 2019-09-04

Daily Forex Market Wrap 2019-09-04

All hail the mighty Rand! The Rand and other EM's had a fantastic day with the Rand leading its EM peers by strengthening almost 2% during...

Daily Forex Market Wrap 2019-09-04

Daily Forex Market Wrap 2019-09-04

Today has been a day of two halves as a stronger USD dominated early morning trade. The EUR and GBP both traded at the lowest levels...

Today's forex view 2019-09-04

Today's forex view 2019-09-04

The dollar index dropped to 98.938 this morning after reaching its highest level since May 2017 when major contributors like the GBP and EUR were at...

Today's forex view 2019-09-03

Today's forex view 2019-09-03

The Dollar has firmed against most currencies overnight as global growth concerns, recession and the trade war continue to concern investors. Analysts point out the growing...

Daily Forex Market Wrap 2019-09-02

Daily Forex Market Wrap 2019-09-02

As expected a rather subdued day in the market with the market celebrating Labour Day today, and being out of the market.

Today's forex view 2019-09-02

Today's forex view 2019-09-02

The additional tariffs imposed by the US on certain Chinese goods as well as the Chinese tariff on US crude oil came into effect yesterday and...

Daily Forex Market Wrap 2019-08-31

Daily Forex Market Wrap 2019-08-31

Quite a good day for the Rand as the Rand has drifted down from the R15.30 level and is currently trading near the R15.20 level. The...

Today's forex view 2019-08-30

Today's forex view 2019-08-30

The Dollar has firmed overnight as we head into the US long weekend. News that China would not be retaliating against the increased US tariffs has...

Daily Forex Market Wrap 2019-08-29

Daily Forex Market Wrap 2019-08-29

Risk off sentiment influenced price action as we saw the ZAR testing to break the 15.50 level for the 3rd time in as many weeks but...

Today's forex view 2019-08-29

Today's forex view 2019-08-29

The Dollar is trading on the front foot this morning with the risk off sentiment prevailing in currency markets on the ongoing trade uncertainty. The Dollar...

Daily Forex Market Wrap 2019-08-28

Daily Forex Market Wrap 2019-08-28

The overall theme of the current situation seems to be that the market is still very much on the defensive, in terms of, risk-taking.

Today's forex view 2019-08-28

Today's forex view 2019-08-28

USDZAR opens up this morning around the R15.30 levels, similar to the yesterday. The market conditions still remains the same, with the worries about the trade...

Today's forex view 2019-08-27

Today's forex view 2019-08-27

Comments from both Donald Trump and Chinese Vice Premier Liu He brought some calm to markets yesterday as trade tensions eased slightly. We saw a recovery...

Daily Forex Market Wrap 2019-08-26

Daily Forex Market Wrap 2019-08-26

The "risk-off" sentiment that built up over the weekend due to the intensifying trade war between the US and China, levelled off a little.

Today's forex view 2019-08-26

Today's forex view 2019-08-26

The week starts off on a huge risk off foot after the events on Friday and over the weekend which has resulted in weak stock markets,...

Daily Forex Market Wrap 2019-08-25

Daily Forex Market Wrap 2019-08-25

Well, no analysis can predict at the moment what the currencies will do next, as the market is mostly headline driven at the moment.

Today's forex view 2019-08-23

Today's forex view 2019-08-23

The Dollar remains steady against most the major and EM currencies in fairly listless trade as markets await Powell's speech. The Pound is the exception as...

Daily Forex Market Wrap 2019-08-22

Daily Forex Market Wrap 2019-08-22

Up until the US markets opened, the ZAR enjoyed a positive trading session where it tested as low as 15.14.

Today's forex view 2019-08-22

Today's forex view 2019-08-22

The Fed's FOMC minutes released yesterday disappointed markets as Jerome Powell reiterated that the recent rate cut was a "midcycle adjustment" and did not lay out...

Daily Forex Market Wrap 2019-08-21

Daily Forex Market Wrap 2019-08-21

The Rand enjoyed the lull in the market today and traded all the way back to the R 15.17 level before ending the SA session at...

Today's forex view 2019-08-21

Today's forex view 2019-08-21

The Dollar is a touch softer this morning after US Treasury yields fell slightly yesterday. The 10y yield is at 1.57% and the 30y at 2.05%...

Today's forex view 2019-08-20

Today's forex view 2019-08-20

The Dollar remains strong as yields rise and fears of a recession seem to be subsiding. On a trade weighted basis, the Dollar is at it's...

Daily Forex Market Wrap 2019-08-19

Daily Forex Market Wrap 2019-08-19

Another day where a lot of head shaking was in the order of the day with all EM's on the back foot as the market is...

Today's forex view 2019-08-19

Today's forex view 2019-08-19

The Dollar is fairly flat this morning as markets look forward to a week where we will likely see some fresh perspective on interest rates and...

Daily Forex Market Wrap 2019-08-18

Daily Forex Market Wrap 2019-08-18

After a week of great volatility today we had a very subdued day as we head off to the weekend.

Today's forex view 2019-08-16

Today's forex view 2019-08-16

After a chaotic trading week we find the markets seemingly settling into a fragile calm. Good retail sales data out of the US has eased recession...

Daily Forex Market Wrap 2019-08-15

Daily Forex Market Wrap 2019-08-15

The ZAR has seen range bound trading but not without volatility, as a choppy trading session within a 20c range draws to close.

Today's forex view 2019-08-15

Today's forex view 2019-08-15

Yesterday's bloodbath in markets on the back of the inverted yield curves in the US and UK seems to have eased slightly in the Asian trading...

Daily Forex Market Wrap 2019-08-14

Daily Forex Market Wrap 2019-08-14

The risk-off sentiment has crept back into markets and the ZAR finds itself above 15.40 at the time of writing.

Today's forex view 2019-08-14

Today's forex view 2019-08-14

Yesterday's news that Trump will delay some of the additional tariffs until mid December gave a boost to markets and we saw EM currencies recover, stock...

Daily Forex Market Wrap 2019-08-13

Daily Forex Market Wrap 2019-08-13

A day that started off on the back foot, with the Rand and other EM's looking deflated and beaten certainly ended with a smile.

Today's forex view 2019-08-13

Today's forex view 2019-08-13

The Rand hit an 11 month low of 15.4650 yesterday as geopolitical tensions, global growth concerns and local political and economic headwinds hammered the currency. The...

Daily Forex Market Wrap 2019-08-13

Daily Forex Market Wrap 2019-08-13

Another day of the Rand mostly leading the charge in the way weakest EM currency (Argentina is has surpassed the Rand this afternoon, after unexpected election...

Today's forex view 2019-08-12

Today's forex view 2019-08-12

With local markets closed for the public holiday on Friday, the Rand traded in a 14.9900/15.2950 range in thin liquidity and is this morning quoted at...

Today's forex view 2019-08-08

Today's forex view 2019-08-08

News out yesterday that Eskom wants the majority of it's R440 billion debt to be transfered to the government and that the power utility was only...

Daily Forex Market Wrap 2019-08-07

Daily Forex Market Wrap 2019-08-07

Well, certainly a day of two halves, which started with the Rand drifting stronger against the US dollar and consolidating in the R14.80s.

Today's forex view 2019-08-07

Today's forex view 2019-08-07

Risk off sentiment remains strong as the Chinese Yuan trades weaker this morning at 7.0510. EM currencies are weaker this morning with the Rand leading the...

Daily Forex Market Wrap 2019-08-06

Daily Forex Market Wrap 2019-08-06

The ZAR has been fairly rage bound during the local trading session but some late afternoon volatility has been spiked on the back off a Moody's...

Today's forex view 2019-08-06

Today's forex view 2019-08-06

The consequences of the trade and currency war, instigated by the tariffs on Chinese goods announced last week, can be seen in global equity and currency...

Daily Forex Market Wrap 2019-08-05

Daily Forex Market Wrap 2019-08-05

China allowed the yuan to weaken to above the physiological level of 7.00 for the first time in more than a decade.

Today's forex view 2019-08-05

Today's forex view 2019-08-05

Market turmoil seems the order of the day as Trump's re-igniting of the trade war has panicked markets. China has cancelled imports of US agricultural products...

Daily Forex Market Wrap 2019-08-04

Daily Forex Market Wrap 2019-08-04

The Trump tariffs caused the ZAR to remain under pressure on Friday with the local unit over 4% down for the week. It is safe to...

Today's forex view 2019-08-02

Today's forex view 2019-08-02

President Trump was at it again yesterday and announced a new 10% tariff on $300 billion worth of Chinese goods. The Dollar weakened against the major...

Daily Forex Market Wrap 2019-08-01

Daily Forex Market Wrap 2019-08-01

So the day after the night before gave us much of the same than the Fed left us with last night. We have seen the Rand...

Today's forex view 2019-08-01

Today's forex view 2019-08-01

The Fed cut rates by 25 basis points as expected last night but it was Fed Chairman Powell's comments thereafter that rocked the markets. Powell called...

Daily Forex Market Wrap 2019-07-31

Daily Forex Market Wrap 2019-07-31

FOMC vote 8-2 to cuts fed funds rate for first time since 2008. Quarter-point drop brings rate down to range of 2% to 2.25%.

Today's forex view 2019-07-31

Today's forex view 2019-07-31

Today we have the much anticipated FOMC decision with a 25 basis point rate cut already priced in. The focus will be on Powell's post meeting...

Daily Forex Market Wrap 2019-07-30

Daily Forex Market Wrap 2019-07-30

The ZAR remained range bound but not without any excitement. The local currency was sold during the cause of the morning and it tested close to...

Today's forex view 2019-07-30

Today's forex view 2019-07-30

After opening weaker yesterday and touching the 14.3150 level again, the Rand recovered through the day to trade in a 14.1700/14.2500 range for the rest of...

Daily Forex Market Wrap 2019-07-29

Daily Forex Market Wrap 2019-07-29

While the Rand was predominantly on the back foot at the back end of last week with the good US GDP number and the Fitch rating...

Today's forex view 2019-07-29

Today's forex view 2019-07-29

The Rand traded on the backfoot for most of Friday as a stronger Dollar and better than expected US GDP number put pressure on the currency....

Daily Forex Market Wrap 2019-07-26

Daily Forex Market Wrap 2019-07-26

The Rand saw a bit of depreciation today mostly as momentum from yesterday spilled over to today and the fact that the US 2nd Quarter GDP...

Today's forex view 2019-07-26

Today's forex view 2019-07-26

After weeks of dull trading sessions, we saw volatility creeping back into the markets yesterday afternoon. The ZAR lost around 1.3% and is currently one of...

Daily Forex Market Wrap 2019-07-25

Daily Forex Market Wrap 2019-07-25

After days of tight range trading the Rand finally shown some vulnerability this afternoon when it shot up and broke the R14.00 level against the US...

Today's forex view 2019-07-25

Today's forex view 2019-07-25

There have been no real overnight moves in the currency markets as all eyes are on the ECB today and the Fed next week. The Euro...

Daily Forex Market Wrap 2019-07-24

Daily Forex Market Wrap 2019-07-24

Range bound, range bound and once again range bound. USDZAR still stuck within the R13.85 to R13.95 range with no real impetus.

Today's forex view 2019-07-24

Today's forex view 2019-07-24

This morning we have the Euro trading weaker at 1.1143 ahead of tomorrow's ECB policy meeting. Markets are expecting the central bank to maintain their accommodative...

Daily Forex Market Wrap 2019-07-23

Daily Forex Market Wrap 2019-07-23

The ZAR continues to drag along in the same range as seen over the past couple of days.

Today's forex view 2019-07-23

Today's forex view 2019-07-23

The Euro has fallen below the 1.1200 level to 1.1195 this morning as the Dollar firms ahead of the Fed FOMC meeting next week. The ECB...

Daily Forex Market Wrap 2019-07-22

Daily Forex Market Wrap 2019-07-22

The USDZAR was on its own today, opening at R13.94 and strengthened throughout the day to currently trade at R13.85. The rest of the emerging market...

Today's forex view 2019-07-22

Today's forex view 2019-07-22

The Dollar is firmer this morning as investors are now leaning toward a less aggressive 25 basis point cut by the Fed this month. The Dollar...

Daily Forex Market Wrap 2019-07-19

Daily Forex Market Wrap 2019-07-19

The ZAR benefited from a weaker dollar after Thursday night's Fed comments and tested the lower 13.80's during the course of Friday morning. The rally was...

Today's forex view 2019-07-19

Today's forex view 2019-07-19

USDZAR traded to a low of R13.84 overnight on the back the New York FED president Willliams spoke and gave dovish comments regarding rate cuts in...

Daily Forex Market Wrap 2019-07-18

Daily Forex Market Wrap 2019-07-18

The ZAR has been trading stronger since the MPC announcement that interest rates will be sliced by 25bps and that the repo rate will be at...

Daily Forex Market Wrap 2019-07-17

Daily Forex Market Wrap 2019-07-17

A rather unremarkable day for the Rand, as the Rand traded in a 5 cent range for the day. The Rand tried and failed to break...

Today's forex view 2019-07-17

Today's forex view 2019-07-17

A strong US Retail sales number which lowered market expectations of aggressive Fed rate cuts saw the Dollar rebound against the major currencies as well as...

Daily Forex Market Wrap 2019-07-16

Daily Forex Market Wrap 2019-07-16

The day began with the ZAR hovering around the low 13.90's and during the morning session, the pair traded lower to test 13.85 mark once again....

Today's forex view 2019-07-16

Today's forex view 2019-07-16

Markets continue to mark time as they wait to see if and by how much the Fed will cut rates later this month. The trade talks...

Today's forex view 2019-07-15

Today's forex view 2019-07-15

The DXY Dollar index is unchanged this morning with the Euro at 1.1272 and Pound at 1.2567, still entrenched in the recent trading ranges.The Pound is...

Daily Forex Market Wrap 2019-07-15

Daily Forex Market Wrap 2019-07-15

It was fairly lacklustre day in the market today, with the Rand edging toward the key R13.8500 level, after starting the day at R13.9500, but again...

Daily Forex Market Wrap 2019-07-13

Daily Forex Market Wrap 2019-07-13

We have seen a stronger US dollar this afternoon after the release of the Producer Price Index rose a seasonally adjusted 0.1% in June from a...

Today's forex view 2019-07-12

Today's forex view 2019-07-12

The Dollar managed to recover some ground last night after having traded on the back foot for most of yesterday on the dovish Fed. The US...

Today's forex view 2019-07-11

Today's forex view 2019-07-11

Fed Chairman Jerome Powell signalled that the Fed could be cutting interest rates soon as uncertainties over the US economic outlook continue. In testimony to Congress...

Daily Forex Market Wrap 2019-07-11

Daily Forex Market Wrap 2019-07-11

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...

Daily Forex Market Wrap 2019-07-10

Daily Forex Market Wrap 2019-07-10

The Rand stayed in a very tight range up until the opening of the US markets, when comments from Fed Chairman Jerome Powell that the US...

Today's forex view 2019-07-10

Today's forex view 2019-07-10

Markets remain in a state of flux as they await the release of the FOMC minutes and Powell's testimony to Congress which starts today. The Dollar...

What are we waking up to today? 2019-07-09

What are we waking up to today? 2019-07-09

What are we waking up to today? The Dollar is back in favour at the moment as markets contemplate less aggressive rate cuts by the Fed....

Daily Market Wrap 2019-07-09

Daily Market Wrap 2019-07-09

The ZAR has remained in the same range over the past couple of days as markets wait upon the Fed to release their minutes of the...

What are we waking up to today? 2019-07-08

What are we waking up to today? 2019-07-08

What are we waking up to today? Friday's US payrolls data, which surprised on the upside, pushed the Dollar up, pushed stock markets down and pushed...

Daily Market Wrap 2019-07-08

Daily Market Wrap 2019-07-08

The Rand has held firm despite the US dollar being on the front foot after Friday's US non-farm print. The Rand has pushed a little stronger...

Daily Market Wrap 2019-07-05

Daily Market Wrap 2019-07-05

Quite an interesting day we had with the Rand as the sentiment swings in the EM currency space and the Rand traded up to R14.2400. The...