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RMB Global Markets podcasts

RMB Global Markets daily podcast - SARB staring at hard data and political smoke screens

Thursday, July 20, 2017

The rand traded in a tight range of between 12.87 and 12.96 since the beginning of this week and down from 13.625 mid last week, however, it failed to meaningfully break both the resistance and support levels of 12.96 and 12.88 as markets await the ECB and SARB policy rate decisions. For today and possibly next week when the Fed also decide on its Fed fund rates, we will be listening to central bankers, in some ways, what they say can drive data outcomes by either stimulating confidence and risk-on sentiment or starting risk aversion and portfolio outflows from emerging markets. No change in policy rates is expected from the ECB it may signal that the tapering of QE may start as early as 4Q2017.

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