Today we are taking a look at:

  • Outflows of foreign capital from the bond market persists
  • Local factors start to weigh on USDZAR
  • Oil continues to rally despite higher OEPC exports and expectations for US inventories to rise; gold marginally higher this morning
  • Rand hedges helped the JSE gain close to a percent, European markets were mixed; The Dow closed at another record high; Asian markets are taking their lead from corporate earnings while energy shares continue to trade lower
  • BOE leaves interest rates unchanged, sounds more dovish; US durable goods orders upbeat in June