Today we are taking a look at:

  • USDZAR breaks below key technical levels, but momentum indicators are extended, with a possibility of a ZAR correction in the near term
  • USDZAR pauses around R13.30/$; dollar range-bound, global majors mixed – euro upbeat, sterling weaker, yen unchanged
  • Top 40 loses 0.8 %, led by resource stocks; US equities marginally lower; Asian markets mixed this morning
  • US labour market and housing data upbeat, budget deficit narrows in July