RDG BROKERS » finance http://rdgbrokers.co.za Life, Business, Personal, Medical and Short Term Insurance Wed, 26 Jan 2011 11:32:58 +0000 en hourly 1 http://wordpress.org/?v=3.1 All time High for Gold http://rdgbrokers.co.za/2009/12/all-time-high-for-gold/ http://rdgbrokers.co.za/2009/12/all-time-high-for-gold/#comments Wed, 02 Dec 2009 07:34:09 +0000 RDG Brokers http://rdgbrokers.co.za/?p=315
South Africa’s rand is currently testing the 7.30/$ mark after the euro remained above 1.50 a dollar and gold is at fresh all time highs trading at $1215 this morning. All these factors and the soccer world cup only six months away with massive inflows expected due to the world’s biggest sporting event will continue to support the rand. We should see importer demand below 7.30/$ however the bullish sentiment will prevail for now.

The International Monetary Fund and finance ministers from the 16 countries using the euro believe the single currency is overvalued, the ministers’ chairman said on Tuesday. The head of the IMF’s European department, Marek Belka, presented a regular report on the euro zone economy to the currency area’s finance ministers and European Central Bank President Jean-Claude Trichet. “We agreed with him when he said that the euro was overvalued and that some adjustment in that area would be desirable,” the Euro group’s chairman, Jean-Claude Juncker, told a news conference.
Current levels
Rand / Usd 7.2800-7.3300
Rand / Euro 11.0000-11.0500
Rand / Sterling 12.1000-12.1500
Jpy / Rand 11.90-11.95
Jpy / Usd 86.98
Usd / Euro 1.5095
Gbp / Usd 1.6600
Gold $1 214.00
Expected ranges
Rand / Usd 7.2000-7.4000
Rand / Euro 10.9500-11.1500
Rand / Sterling 12.0000-12.2000
Jpy / Rand 11.80-12.00
Article courtesy of Accredinet
]]> http://rdgbrokers.co.za/2009/12/all-time-high-for-gold/feed/ 0 Exchange Control Relaxed http://rdgbrokers.co.za/2009/10/exchange-control-relaxed/ http://rdgbrokers.co.za/2009/10/exchange-control-relaxed/#comments Wed, 28 Oct 2009 13:37:29 +0000 RDG Brokers http://rdgbrokers.co.za/?p=300 After yesterday’s action the release of CPI today should be a non event. Market expectations are at 6.2 percent slightly lower than last month. However the big mover yesterday was the budget speech. Even though the relaxation of exchange control measures we perceived as positive the huge projected budget deficit over the next few years had a negative impact on the rand. It is clear that department of finance also prefer a weaker rand. Taking all these negative factors in consideration the rand actually performed well to be at 7.67/$ this morning. Euro and gold dropped so a move toward 7.80/$ is possible.

U.S. Treasury Secretary Timothy Geithner on Tuesday said the dollar would remain the world’s main reserve currency for a long time as the country takes the right measures to support the economy. “I think the dollar will remain the principal reserve currency for a long period of time,” Geithner said at a conference sponsored by the Securities Industry and Financial Markets Association in New York. However, he also said the dollar’s position is not a privilege and comes with responsibilities and obligations that the United States must uphold. Current levels Rand / Usd 7.6500-7.7000 Rand / Euro 11.3300-11.3800 Rand / Sterling 12.5300-12.5800 Jpy / Rand 11.90 -11.95 Jpy / Usd 91.33 Usd / Euro 1.4833 Gbp / Usd 1.6369 Gold $1 040.00 Brent $77.75 Expected ranges Rand / Usd 7.5800-7.7800 Rand / Euro 11.2500-11.4500 Rand / Sterling 12.4500-12.6500 Jpy / Rand 11.80-12.00 ]]> http://rdgbrokers.co.za/2009/10/exchange-control-relaxed/feed/ 0 Rand Dips over Budget Expectations http://rdgbrokers.co.za/2009/09/251/ http://rdgbrokers.co.za/2009/09/251/#comments Wed, 02 Sep 2009 14:40:36 +0000 RDG Brokers http://rdgbrokers.co.za/?p=251 We remain fairly quiet, however the rand weakened overnight after minister of finance Gordhan warned that the budget deficit could be much larger than expected. We are in the mid 7.80 and do not expect too much action. In the bigger picture we are in the 7.70/$ to 8.30/$ trading range, which is good news for both importers and exporters as stability is all that is required to manage currency risk.

Dollar interbank rates fell to record lows in Singapore on Wednesday in spite of a slight pick-up in interest rate volatilities and wider spreads as fresh fear over bank failures caused financial stocks to fall. Private equity and hedge fund Cerberus Capital Management, which has been hit hard by investment losses, on Tuesday dismissed rumours it is in danger of default. But trading in Asia continued to be dogged by fears that a major bank or a hedge fund would fail, a factor that has played a part in driving U.S. stock markets down three days in a row.

Current levels

Rand / Usd
7. 7.8500-7.9000 -7.7700

Rand / Euro
11.1800-11.2300

Rand / Sterling
12.6800-12.7300

Jpy / Rand
11.75-11.80

Jpy / Usd
92.80

Usd / Euro
1.4215

Gbp / Usd
1.6130

Gold
$955.00

Brent
$68.02

Expected ranges

Rand / Usd
7.7500-7.9500

Rand / Euro
11.1000-11.3000

Rand / Sterling
12.6500-12.8500

Jpy / Rand
11.65-11.85

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