Market focus: Rand corrects on EM profit-taking and Eskom power cuts; Caution expected ahead of FOMC
It was quiet session internationally yesterday from the point of macro data releases.
A lot of negativity has already been priced into the EUR, so the news of Syriza’s win in the Greek elections appeared to only have a temporary dampening effect on the currency and broader risk markets, the EUR in fact rebounding later in the session as short positions were covered
Today is once again a quiet one as we build-up to Thursday’s local interest rate announcement, with the SARB holding the key to the rand’s next move.
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