CD South Africa: Give and take
Currencies Direct January 26th 2016 - < 1 minute read
The rand failed to break through 16.40/$ yesterday as the global market selloff resumes. A further drop in oil and other commodities has led to risk-off sentiment. ECB President Mario Draghi hinted at further quantitative easing in his press conference last night, however this has had little to no effect on global markets.
Event risk is low for today, with Bank of England Governor Mark Carney taking to the podium at 12h45 and the release of US consumer confidence at 17h00. Enjoy the day and let’s hope the Proteas can clinch a victory against the English!
Commentary by Justin Lodewyk