Today we are taking a look at:

  • ZAR crosses face rand resistance at key technical levels; carry return and carry-to-risk ratio heads lower, signalling ZAR weakness in near term
  • Rand faces reprieve overnight as dollar comes under pressure; global majors strengthen on the back of dollar weakness
  • Top 40 ends marginally higher; global equities downbeat, US ends flat, Asia mostly negative this morning
  • US Chicago Fed national activity index rises, indicating the possibility for above-trend growth in the US over the medium term

Bond inflows masks large equity outflows, with a net weekly inflow of R3.9 billion last week