Today we are taking a look at:

  • USDZAR testing previous consolidation from above as global search for yield supports EM FX, EURZAR testing horizontal resistance around R16.00/Euro, Sterling worst and ZAR best performance push GBPZAR.
  • Rand rallies on strong global risk appetite, sterling stabilises as UK looks to appoint new Prime Minister, yen continues slide.
  • Top 40 +1.7 % in tandem with stronger global markets, S&P 500 closes at all-time high, Asia stronger this morning.
  • Cumulative flows show 7th consecutive week of inflows into both bonds and equities.
DailyMarketCommentary20160712