South Africa’s rand traded in narrow ranges yesterday, as market players were sidelined waiting for fresh economic indicators. We have CPI data at 11h30 this morning which is expected to be at 6.6 percent. On the global side will analysts watch this afternoon the release of U.S. housing figures. We should continue to see consolidation, keeping an eye on the MTN/Bharti deal……
Japanese stocks rose to a 10-month high on Wednesday, driven by a modest shift into defensive sectors, while stocks in Shanghai turned positive on the week as investors cheered corporate results. Thin summer trading volumes, however, kept prices choppy and markets generally remained in ranges. Major European stock futures were down 0.2 percent STXEc1 after the cash market closed at the highest since early October, while U.S. stocks futures were up 0.4 percent SPc1, set to extend gains after U.S. single-family home prices grew for a second straight month. The Ifo survey of German business sentiment is expected to show an across the board pickup later on Wednesday, playing into the story that recoveries are taking hold around the world.
Current levels
Rand / Usd
7.7700-7.8100
Rand / Euro
11.1200-11.1700
Rand / Sterling
12.6000-12.6500
Jpy / Rand
12.07-12.12
Jpy / Usd
94.12
Usd / Euro
1.4315
Gbp / Usd
1.6327
Gold
$948.00
Brent
$71.95
Expected ranges
Rand / Usd
7.6500-7.8500
Rand / Euro
11.0000-11.2000
Rand / Sterling
12.5500-12.7500
Jpy / Rand
12.05-12.25