Traders Corner

on . Posted in News Flash

US markets continued to slide into the close on Friday night, losing between 3 & 4-tenths of a percent across the board, while the German DAX index had its worst week in two years. Asian is trading mixed this morning, with miners slightly lower, while Tencent is trading +1%. The Rand is maintaining the R10.66/$-level, with the gold price last trading at $1,292 an ounce. World futures are trading +0.3%.

Key macro events:

    • US: ISM New York
    • Europe Eurozone PPI
  • Australia: Retail Sales

Tradewise Report

on . Posted in Investment general

The Nikkei Index fell 0.6% lower to end at a one-week low on Friday, with investors concerned that U.S. central bank may raise interest rates sooner than expected, but strong earnings from companies such as Sony Corp limited the losses.

The Hang Seng Index fell on Friday as a weaker performance on Wall Street overnight hurt sentiment, while the shares on mainland China edged slightly higher on signs of a pick-up in manufacturing activity.

According to Reuters, European markets are expected to open lower for a third consecutive trading day on Friday, tracking the sell-off on Wall Street overnight, while investors are also nervous ahead of U.S. jobs data due later today, which should shed light on the Federal Reserve's monetary policy going forward

Reuters reports that the S&P 500 index dropped 2% lower on Thursday to record its worst daily performance in four months and its first monthly fall since January, as economic data triggered concerns that the Fed could raise interest rates sooner than expected, while problems in overseas economies also contributed to the bearish sentiment.

Business Day reports that the JSE All Share Index ended in the red on Thursday, with gold and platinum mining shares leading the downside on the back of weaker commodity prices, while news that Argentina had defaulted on its debt also weighed on emerging markets, offsetting local trade data for June that was much better than expected.

The Rand is trading weaker at R10.7366 against the US Dollar, with the Euro quoted at R14.3672 and the British Pound at R18.0841.

The gold price traded near a six-week low in Singapore on Friday. Gold was last trading at $1,283.60, with the platinum price quoted at $1,458.90, while the palladium price has slipped to $870.40.

Brent was last trading slightly lower at $105.97 a barrel.

Traders Corner

on . Posted in News Flash

YesterdayUS markets had their worst day this year, losing 2% across the board after poor earnings results triggered a sell-off. Asian markets are also trading lower this morning, but good China PMI data is helping keep markets out of much of the negative territory. The Rand remains weaker at R10.72/$ with the gold price last quoted at $1,284 an ounce. FTSE futures are 0.3% lower with US futures trading +0.25%

Key macro events:

    • SA: Kagiso manufacturing PMI – expected: 45
    • SA: NAAMSA vehicle sales – expected: -6%
    • US: Change in non-farm payrolls – expected: 230k
    • US: Unemployment rate – expected: 6.1%
    • US: Personal spending
    • US: Personal income
    • US: Core PCE Y/Y
    • US: Markit manufacturing PMI
    • US: University of Michigan consumer confidence
    • US: ISM manufacturing
  • US: Domestic vehicle sales

Tradewise Report

on . Posted in Investment general

The Nikkei Index reached a new six-month high on Thursday on the back of strong U.S. growth data and a weaker Yen, which supported investor sentiment and lifted exporters.

The Hang Seng Index slipped lower in volatile trading on Thursday with investors preferring to be cautious ahead of the release of China's official PMI number for July on Friday.

According to Reuters, European markets are expected to open steady on Thursday, recovering from the previous day's decline, with Portugal's Banco Espirito Santo under the spotlight after announcing a huge loss and reporting that it will start increasing its capital base.

Reuters reports that US markets ended mostly firmer on Wednesday with banking stocks supporting the S&P 500 index, and biotechnology stocks boosting the technology-heavy NASDAQ after the U.S. central bank presented a better assessment of the U.S. economy, reaffirmed that it is in no hurry to raise interest rates but reduced its monthly asset purchases to $25-billion from $35-billion as was expected.

Business Day reports that the JSE All Share Index closed in negative territory on Wednesday on the back of some profit-taking in the banking sector after their recent strong gains‚while the gold price fell and dragged miners lower on the release of strong US GDP data.

The Rand is trading weaker at R10.6107 against the US Dollar, with the Euro quoted at R14.2233 and the British Pound at R17.9451.

The gold price last trading lower at $1,299.30, with the platinum price quoted at $1,476.70, while the palladium price is trading higher at $880.30.

Brent was last trading slightly higher at $107.52 a barrel.