Daily Market Commentary: 8 December 2016

Today we are taking a look at:

  • USDZAR heading for a test of the 2016 low of R13.20/$, trade-weighted rand likely to strengthen further after breaking above L/T resistance level
  • Rand builds on gains but slows below R13.50/$, global majors range bound ahead of ECB today
  • Top 40 rises 1.19%, led by industrials stocks; Global equities upbeat; US equity markets surge; Asian markets follow positive this morning
  • US Data shows elevated job opening rate, consumer credit growth slows; UK industrial production slumps in October; SACCI business confidence marginally higher; Chinese foreign reserves sharply lower; Japanese GDP revised lower due to a decline in business spending
By | 2020-03-17T10:03:17+02:00 December 8th, 2016|Investment Banking, Markets and Research, Uncategorized|0 Comments