Small victory of a VERY small “battle” for the South African Rand (ZAR) this week, with the “war” still being far from won. With most of the Emerging Market currencies making a bit of a recovery this week, it was the ZAR that stood out to be the star performer (against a weaker USD) amongst all other BRICS currencies. BRICS currency/USD movements for this week:...
The Rand (USDZAR) is still very much on course to go and test that R20/USD level. It breached the R19 level this week for the first time ever, after Fitch Rating Agency downgraded South Africa to BB with a negative outlook. This saw the ZAR being the worst performing BRICS currency this week, by a country mile! BRICS currency/USD movements for this week:...
Hate to admit it, but this graph looks horrible. Last time with seen similar movements was with Nenegate at the end of 2015 and before that, it was during the Great Recession of 2009. South Africa has now officially been downgraded to Junk by Moody’s and will this coming week be a trialling time for the Rand. #BRICS currency/USD movements for this week: ...
Another tough week for all Emerging Market Currencies, filled with huge (Coronavirus) uncertainty that not even a Fed rate cut (-0.5%) could comfort. The big positive was that the South African Rand remained quite resilient compared to other BRIC currencies. #BRICS currency/USD movements for this week: Brazil -3.3% Russia -2.6% India -2.0% China +0.8%...
Another tough week for all Emerging Market Currencies, with the South African Rand again being just a little small fish in a big pond. #BRICS currency/USD movements for this week: Brazil -1.9% Russia -3.9% India -0.9% China +0.5% South Africa -4.2% Euro/USD +1.7% Technically, the Rand ( ZAR ) broke a very strong and dangerous resistance level at...
After the recent third quarter sales update (€4,156m vs consensus of €4,165m), we saw Richemont enjoy a bit of rally, which subsequently saw the share price breakthrough its resistance line. This was however short-lived and ended up being a false breakout. My biggest worries currently include: • Continued weakness and recent downgrades in Hong Kong, could see...
Very similar levels compared to beginning October 2018, which subsequently saw QQQ drop more than 20%. Running a price relative against NASDAQ:TLT saw QQQ run one standard deviation ahead of TLT, which saw similar price movements prior to the big retracement between October 2018 and end December 2018. This time however we find QQQ substantially more OVERBOUGHT...
After yesterday’s retracement in the SPX, we saw a break and close below the 8-day moving average (MA). SPX still finds itself heavily OVERBOUGHT according to its 14-day RSI. Strong parallel channel developed since the lows in early October 2019. During last nights trading, the bottom support was tested but held up eventually. This support-line also corresponds...
FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Invicta 12 City Lodge 14 Eoh 15 Cashbuild 18 Tiger Brands 20 Overbought: DRDGold 77 Harmony Gold 72 Goldfields 71 Royal Bafokeng Platinum 70 AngloGold 70 Spending some time on Tiger Brands. After a horrible trading statement last week, Tiger Brands not only...
Tough week for all Emerging Market Currencies again, with the South African Rand definitely joining the pity-party. With a big week ahead for all South Africans (National Budget Speech on Wednesday 26 February), it would only take the bravest to call the Rand going stronger this coming week. #BRICS currency/USD movements for this week: Brazil -2.1% Russia...
MTN just released a trading update for financial ended 31 December 2020. - HEPS expected to increase by 30% - 50% - EPS expected to increase by 0% - 10% Even at the top of the range (534cps), results will still below Thomson Reuters consensus expectations of 583cps. MTN however adapted new accounting standard (IFRS 16), which on a like-for-like basis with the...
Local property, in general, has been struggling for the past 2 years, with good reasons. I just finished my report (will publish here soon) on the sector and although many of these reasons still persist, there are some reasons to slowly but surely put the sector on your personal "BUYING-RADAR". My personal preference still lies with the biggest counter in the...
For those thinking that the Rand is back to its old ways, should note that the Rand’s weakness (against the USD) got very little to do with Eskom’s or SAA’s. It was another week where the US showing its might (Euro lost 1.4% against the USD), with the Rand closing above the R15/USD level for the first time since November last year. #BRICS currency/USD movements...
Solid week for the ZAR (Rand), improving against the USD during a week where all BRIC currencies, as well as the Euro, weakened against the USD. #BRICS currency/USD movements for this week: Brazil -0.5% Russia -0.8% India -0.4% China -1.1% South Africa +0.4% Euro/USD -0.6% Technically, the Rand (ZAR) traded in the bands as expected this week,...
Welcome back Aspen & Tiger Brands! After some pressure years, they’re both back into “overbought”. Top 5 Oversold & Overbought currently according to their 14-day RSI’s: Oversold: City Lodge Hotels 26 Anheuser Busch Inbev 27 Ascendis Health 28 Nampak 28 PPC 31 Overbought: Capitec Bank 83 Aspen 75 Tiger Brands 72 Emira Property 70 PSG Group 70 This...
Some might call it ONLY profit-taking on the Rand during the week. The harsh reality is over the same week the World Bank also cut its economic growth forecast for South Africa to below 1% for 2020 due to electricity supply concerns. It now expects the economy to expand by only 0.9% this year, which is not only down from 1% published in its Africa Pulse report...
Die Rand moving in-line with most BRIC currencies, with one major difference between the them being that South Africa received a 0.25% interest (repo) rate cut from the SARB this week. So, even with the Rand being a bit softer this week, one can argue that this was mainly due to the rate announcement. #BRICS currency/USD movements for this week: Brazil -1.6%...
FTSE/JSE All Share Top5 oversold/overbought according to 14day RSI indicator as follow: Oversold: Intu Properties 16 Nampak 26 Ascendis Health 26 Hudaco 28 Datatec 29 Overbought: Royal Bafokeng Platinum 81 Prosus 78 African Rainbow Mineral 77 BATS 77 Northam Platinum 77 Spending some time on Hudaco (HDC). With HDC’s results for period ended 30...