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O Goberno central autoriza a senda de gasto para aplicar a redución das peaxes da AP-9

O Goberno central autoriza a senda de gasto para aplicar a redución das peaxes da AP-9
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ZAR strength continues

Cape Business News Rand Source: Google Images The rand has made record gains in the month of April by climbing 4.2% against the dollar and 3% against the pound. Thin liquidity is expected this week resulting from Tuesday’s public holiday. Traders are expected to sit tight as there are very few news events expected in the coming week to rally the currency in any direction. The rand is currently trading at 14.271 against the USD, 19.835 against the pound and 17.233 against the euro. Across the pond, the US also has a slow news week with only the Fed’s interest rate decision on Wednesday. Nothing is expected to change but the tone of the press conference could move the markets.

Rand closed 1 7% stronger

Rand Source: Google Images The signing of the US $1.9 trillion relief package into law by President Biden and declining US bond yields saw the Dollar trade on the back foot and risk currencies firm last night. The Rand closed 1.7% stronger at 14.8229, having briefly tested close to the 14.8000 level, but the local currency has slipped a bit this morning to be trading at 14.9050 as bond yields and the Dollar tick higher. Gold has slipped off yesterday’s stronger levels, trading at $1 719 while Platinum is a touch firmer at $1 209, and Palladium softer at $2 353. Oil is trading marginally lower at $65.82 for WTI and $69.50 for Brent.

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