Market waiting for the Fed

Much has been said about the market moving range-bound ahead of the FOMC outcome tomorrow evening, and today has been nothing different. The dollar is trading flat against the euro and pound, with EM's still tracking softer. The rand tested slightly below R17.50 before trading back toward this morning's opening levels. Our local currency continues to trade weaker than its peers, with the current levels being the weakest we have seen year to date, with some inherent load-shedding risk still priced into the market.

Commodities

Commodities are on the back foot today as various factors weigh in. Risk-off sentiment and a stronger dollar have seen metal prices lose further ground during the day, with both Platinum and palladium down over 1%. Brent Crude is down 1% on the day, with supply increases outweighing higher demand out of China. 

#CommodityPriceRiskManagement #CurrencyMarkets #ZAR #Loadshedding