RDG BROKERS » jobless 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 Positive Outlook http://rdgbrokers.co.za/2009/11/positive-outlook/ http://rdgbrokers.co.za/2009/11/positive-outlook/#comments Fri, 06 Nov 2009 07:26:29 +0000 RDG Brokers http://rdgbrokers.co.za/?p=303 South Africa’s rand held onto gains and is slightly stronger this morning. Most emerging market currencies are benefiting from a positive global economic outlook. Trading should be quiet ahead of the release of U.S. jobs data this afternoon. While the euro, gold and other commodities remain well supported the rand will remain strong.

The U.S. dollar held steady on Friday with investors consolidating positions ahead of October non-farm payrolls data due later in the session, a report that would highlight the durability of an economic recovery. A Reuters poll showed median forecasts are for 175,000 jobs being shed, slower than the 263,000 lost in September, with the jobless rate rising to 9.9 percent. If the numbers disappoint, investors are likely to flock to the U.S dollar and the yen JPY=, while a strong report could see high-yielding currencies gain. Current levels Rand / Usd 7.5900-7.6400 Rand / Euro 11.2800-11.3300 Rand / Sterling 12.6000-12.6500 Jpy / Rand 11.90 -11.95 Jpy / Usd 90.645 Usd / Euro 1.4875 Gbp / Usd 1.6620 Gold $1 091.00 Brent $78.63 Expected ranges Rand / Usd 7.53000-7.7300 Rand / Euro 11.2000-11.4000 Rand / Sterling 12.5000-12.7000 Jpy / Rand 11.85-12.05 ]]> http://rdgbrokers.co.za/2009/11/positive-outlook/feed/ 0