Financial News

FxWirePro: Glance through ZAR ahead of SARB rate cut hopes USD/ZAR option trade via strangle writing on shrinking vols

SARB meets today to make a monetary policy decision: the majority of analysts expect a 25bps cut to the benchmark rate today. The South African Reserve Bank lowered its benchmark repo rate by 25bps to 6.75 percent on July 20th, saying the inflation outlook has improved while domestic growth prospects have deteriorated further following the surprise GDP contraction in the first quarter of the year.

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Oil in Global Economy Series: Oil price in for biggest 3rd quarter gain in 13 years after worst H1 in 20 years

North American benchmark oil index, WTI has moved above $50 per barrel this week, for the first time since early August. Though it is struggling to find buyers above $50 area, we expect the current bullish momentum to continue a bit further and WTI to reach around $56 per barrel over the short to medium term.

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FxWirePro: Is it worth chasing Sterling vols? A wise call for GBP Vega buyers to prefer longs ahead of Theresa May's Brexit speech

Very recently, the British Foreign Secretary Boris Johnson will hopefully not take it personally that Sterling appreciated briefly yesterday in reaction to reports he might resign. We interpret the exchange rate moves in such a way that Sterling will benefit whenever the likelihood of Great Britain continuing to enjoy far reaching access to the European single market rises.

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FxWirePro: Can it be upside-down for platinum and palladium in Q4, can prices translate?

As we look towards 4Q, we expect both metals to give back some of their recent gains over the coming couple of quarters as our baseline outlook calls for both of the catalysts driving the recent rally in both platinum and palladium—firm global economic growth, especially in China and declining real rates underpinning gold prices—to reverse into the year-end.

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Europe Roundup: US dollar surges on hawkish Fed, Gold below 3-week low, European shares higher as bank stocks jump - Thursday, September 21st, 2017

Market Roundup

  • EUR/USD 0.17%, USD/JPY 0.24%, GBP/USD -0.03%, EUR/GBP 0.19%
  • DXY -0.1%, DAX 0.32%, FTSE 0.09%, Brent -0.3%, Gold -0.51%
  • S&P cuts China's credit rating, citing increasing economic, financial risks
  • Euro zone growth gaining momentum but inflation subdued: ECB Bulletin
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