SARB hikes rates by 25bps; 50bps expected
It appears SARB could have gone with 50bps, but held back due to ongoing load shedding and the hit it may take on the economy.
USD ZAR
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Is the South African Rand pointing to a new low in Gold?
The South African Rand and Gold have a strong positive correlation. Therefore, when one of these assets moves in one direction, the other asset is likely to follow in the same direction.
USD/ZAR near key technical level ahead of SARB
If the SARB raises rates less than expected or if the statement is less hawkish than expected, the pair may break higher.
USD/ZAR pushing 5-month lows ahead of SARB
Whether the central bank raises rates by 25bps or 50bps may depend on the outcome of the CPI report!
Why the Vix is losing its impact as market correlations break down
We’ve noticed some strange market reactions this week, on the one hand stocks are looking very shaky as some key support levels are tested and the Vix index is at its highest level for 6-months. However, on the other hand, emerging market currencies are holding up well vs. the USD, the South African rand is one of the top performers vs. the USD this week, and the US corporate high yield debt spread with Treasury yields remains remarkably stable at 3.5%. So what is going on?
EM Rundown: Could USDTRY bulls quit cold turkey?
<p>Central banks will be traders’ central focus in the G10 this week, with monetary policy “decisions” out of the Federal Reserve, Reserve Bank of New Zealand and Bank of Japan, but there will also be some potentially important central bank meetings in the emerging world as well. While not too many readers are trading the currencies of Hungary, Nigeria, Ukraine or Israel (each of which features a central bank meeting this week), there will be central bank updates from more widely-followed nations like Russia, South Africa, and Turkey.</p>
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