In today’s Markets update we take a look at:
- USDZAR and EURZAR resilient, strengthens recently, momentum indicators show further strength likely, GBPZAR at the mercy of volatile sterling
- Dollar led weaker by surge in the sterling and mixed economic data, majors stronger, USDZAR continue on the strengthening trend
- Top 40 slumps 1.65%, led by widespread losses; US equities negative due to disappointing earnings results; Asian markets follow negative this morning
- US data mixed, housing starts slump while permits and industrial activity upbeat
- Foreign flows supported by bonds, first time in a year that net YTD flows are positive
