Today we are taking a look at:

  • Risk-off hampers EM FX, with ZAR above R14.50/$, bonds follow suit, with yields higher over the day
  • Rand under pressure ahead of NFP data
  • Oil headed for its first back-to-back weekly loss this year as swelling U.S. crude inventories and Russia’s failure to meet a targeted production cut eased fears of a looming supply crunch
  • The JSE bucked the global trend, closing in positive territory, while comments from the US Fed weighed on global sentiment
  • SA PMI recovers marginally in April; BOE leaves interest rates unchanged, remains cautious on higher inflation
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