RDG BROKERS » Tokyo 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 South Africa out of Recession http://rdgbrokers.co.za/2009/11/south-africa-out-of-recession/ http://rdgbrokers.co.za/2009/11/south-africa-out-of-recession/#comments Tue, 24 Nov 2009 15:43:59 +0000 RDG Brokers http://rdgbrokers.co.za/?p=305
South Africa’s rand continued to trade sideways with little interest shown by local traders. We have 3rd GDP figures released today which will give us an indication of the state of our local economy, economists expect 0.2 percent growth. Most major currencies are trading sideways which will probably contribute to another quiet day locally. We will see exporters close to 7.60/$ and importers will probably look to buy currency below 7.50/$.

The dollar fell broadly on Monday after dovish comments from a U.S. Federal Reserve official added weight to expectations that U.S. monetary policy would stay ultra-loose for a prolonged period. The dollar fell to a six-week low against the yen and the euro gained more than three quarters of a percent against the greenback.

Moves were exacerbated by thin liquidity with Tokyo markets shut and ahead of Thursday’s U.S. Thanksgiving holiday. St. Louis Federal Reserve President James Bullard said on Sunday that the central bank should keep alive its mortgage-related asset purchase program beyond a planned end date to help stimulate the economy. Traders were also encouraged to sell dollars in favour of higher-yielding and perceived riskier currencies as gold prices jumped to record highs, European shares rose 1.4 percent and oil prices CLc1 gained more than 1 percent.
Current levels
Rand / Usd 7.5000-7.5500
Rand / Euro 11.2300-11.2800
Rand / Sterling 12.4500-12.5000
Jpy / Rand 11.75-11.80
Jpy / Usd 88.83
Usd / Euro 1.4930
Gbp / Usd 1.6562
Gold $1 167.00
Brent $79.40
Expected ranges
Rand / Usd 7.4000-7.6000
Rand / Euro 11.1500-11.3500
Rand / Sterling 12.4000-12.6000
Jpy / Rand 11.70-11.90
]]> http://rdgbrokers.co.za/2009/11/south-africa-out-of-recession/feed/ 0 Rand under Pressure http://rdgbrokers.co.za/2009/07/rand-under-pressure/ http://rdgbrokers.co.za/2009/07/rand-under-pressure/#comments Mon, 13 Jul 2009 11:55:23 +0000 RDG Brokers http://rdgbrokers.co.za/?p=185 South Africa’s rand remained under pressure in late trade on Friday evening
as the dollar continued to rally against most major currencies. The current
sentiment is bearish for most emerging market currencies and until such time it improves traders and speculators will continue to test the local unit.

We are trading above the 8.20/$ resistance which could trigger further stop
loss orders for a test of 8.30/$.

The yen held steady against the dollar and euro after an official of Japan’s ruling Liberal Democratic Party (LDP) said on Monday the prime minister was expected to call a general election for Aug. 30. Japanese media had reported earlier that Prime Minister Taro Aso could dissolve the lower house as soon as Tuesday after the ruling bloc suffered a big defeat in weekend elections in Tokyo.
Current levels

Rand / Usd
8.2400-8.2900

Rand / Euro
11.5000 – 11.5500

Rand / Sterling
13.3200 – 13.3700

Jpy / Rand
11.10- 11.55

Jpy / Usd
92.20

Usd / Euro
1.3917

Gbp / Usd
1.6107

Gold
$911.00

Brent
$59.80

Expected ranges

Rand / Usd
8.1500-8.3500

Rand / Euro
11.4000-11.6000

Rand / Sterling
13.2500-13.4500

Jpy / Rand
11.05-11.25

Courtesy of Accredinet Financial Solutions

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