Markets are calmer

Should we say the calm after the storm, with markets calmer today than it was for most of last week? The fact that no new banks came under pressure over the weekend has helped the market ally fears from last week. US Treasury yields rose amid reduced demand for the safety of government paper as tensions in the banking sector eased. This has caused safe-haven assets like Gold and the US dollar to have eased a little today. The US dollar is trading at 1.0780 against the Euro, and Gold is trading at $1,950 per ounce. The Rand has traded slightly weaker today and is trading at R 18.30 after starting the day at R18.15.

Data could impact the latter part of the week

While there is a current calm in the market this week, we have some exciting data releases at the back end of the week that could impact markets. We have a couple of Fed speakers that could give the market some indications of the Fed's thinking. On Thursday, we have the final GDP number out of the US for the 4th Quarter of last year. We also have the South African interest rate decision on Thursday, with an expected 25 basis point hike on the cards. Friday, the Fed's favored measure of inflation, the PCE, will be released.

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