Non farm payrolls out of the US could add some real impetus to the market 2019-10-03

Our daily forex view brought to you by the TreasuryONE Dealing Team

2Y treasury yields in the US remain under pressure as the call for rate cuts in October escalate. US jobless claims came out in line with expectations and did not have real impact. US equities are slightly down for the day and we will await Friday's non farm payrolls out of the US. This could add some real impetus to the market, with a poor number that could benefit the ZAR and vice versa.

The ZAR opened at R15.25 on Thursday morning and rushed down to the R15.15 level in early trade. For the rest of the day it was stuck in R15.14 to R15.18 range. EURUSD also traded flat most of the day around 1.0960, making a run to the 1.10 level late afternoon even with EURO stocks under pressure. The pound made a recovery from below 1.23 to almost 1.24 and Gold also bounced to trade comfortably above $1,500.

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The Rand is holding on to yesterday's gains and trading at 15.2675 this morning 2019-10-03

The Rand is holding on to yesterday's gains and trading at 15.2675 this morning due to a combination of a softer Dollar and the range of...