Traders Corner

on . Posted in News Flash

US markets closed slightly lower last night, however Asia is leading the charge this morning with Tencent and the miners rallying. Gold was last at $1305 an ounce with the Rand set to go stronger on technical indicators, currently at R10.61/$. FTSE futures are trading 0.3%

Key macro events:

  • SA Leading indicator

  • US CPI excl. food & energy Y/Y – exp: 2%

  • US Richmond fed manufacturing

  • US Existing home sales

Tradewise Report

on . Posted in Investment general

The Japanese market was closed on Monday for a holiday.
The Hang Seng Index traded slightly lower to flat on Monday, while shares on mainland China were also trading in negative territory, with investors setting aside a large amount of money for impending eleven initial public offerings (IPOs) which were approved last week.
Reuters reports that European markets closed almost unchanged on Friday despite escalating tensions between Russia and the West which limited investor appetite for risk assets and counteracted strong earnings reports from Sweden.
According to Reuters, the Dow reached another intraday record high on solid earnings from companies such as Morgan Stanley and UnitedHealth but closed sharply lower on Thursday on the back of news that a Malaysian Airlines passenger jet had been shot down and crashed near the Ukraine-Russia border.
Business Day reports that JSE All Share Index closed 0.18% lower on Friday but still ended 0.30% higher for an eventful week as geopolitical concerns in Ukraine and the Middle East weighed on investor sentiment and created a modest risk-off scenario.
The Rand is trading slightly firmer at R10.6412 against the US Dollar, with the Euro quoted at R14.4079 and the British Pound at R18.1549.
The gold price was steady in Singapore on Monday trading above the $1,300 an ounce support level as investors anticipate increased geopolitical risks as the West began demanding answers from Russia over the shot down Malaysian plane. The gold price last traded at $1,311.76, with the platinum price quoted at $1,488.90, while the palladium price is trading at $879.60.
Brent crude oil price is trading steady on Monday, as geopolitical concerns around the Malaysian jetliner increased. Brent was last trading higher at $107.24 a barrel.

Traders Corner

on . Posted in News Flash

US markets rallied on Friday, shaking off fears that saw markets tumble earlier in the week, with the Dow notching out 7-tenths of a percent, the S&P500 1% and the Nasdaq nearly 1.6%. Asia is trading mixed this morning, with both the miners and Tencent trading lower. The Rand was last at R10.64/$, with gold at $1311 an ounce. FTSE futures are trading +0.2%

Key macro events:

  • US Chicago Fed Nat Activity index

Tradewise Report

on . Posted in Investment general

The Nikkei share average lost more than 1% to fall to a one-week low on Friday, while posting its biggest one-day fall in almost two months as investors became more risk averse on news around the Malaysian Airlines passenger crash.

The Hang Seng Index traded in the red on Friday, tracking the weaker close on Wall Street overnight, while investors were also rattled following the news that a Malaysian airliner was shot down with a missile near to the Ukraine-Russia border, killing nearly 300 people on board.

Reuters reports that European markets are seen opening lower on Friday, extending the losses from the previous trading session after reports that a Malaysian airliner had crashed over eastern Ukraine and triggered a sell-off, while also increasing geopolitical tensions.

According to Reuters, the Dow reached another intraday record high on solid earnings from companies such as Morgan Stanley and UnitedHealth but closed sharply lower on Thursday on the back of news that a Malaysian Airlines passenger jet had been shot down and crashed near the Ukraine-Russia border.

Business Day reports that local equities closed in negative territory on Thursday‚with investors taking some profits after the market rallied strongly over the past four trading sessions which saw the JSE All Share Index reach new record highs, while the Reserve Bank’s decision to raise interest rates by 25 basis points to 5.75% because of rising inflation concerns was not a big surprise.

The Rand is trading slightly lower at R10.7092 against the US Dollar, with the Euro quoted at R14.4815 and the British Pound at R18.2854.

The gold price dipped lower in Singapore on Friday on some profit-taking after surging higher overnight as risk aversion increased, burnishing the precious metal appeal as an alternative investment during times of geopolitical uncertainty. The gold price last traded at $1,312.00, with the platinum price quoted at $1,489.00, while the palladium price is trading at $877.30.

Brent was last trading higher at $108.31 a barrel.