Precious metals (PM) have really struggled this week, with the following weekly movement in USD:
Gold TVC:GOLD -5.65%
Silver TVC:SILVER -7.17%
Platinum TVC:PLATINUM -7.2%
Palladium TVC:PALLADIUM -8.23%
All these PM’s seems to be heavily oversold over the shorter-term, which could see a bit of a recovery over the next week or two. Why is this important?...
South Africa is one Emerging Market economy poised for success given the recent dollar weakness. Today's retail sales data, +2.6% YoY vs 0.4% last month proves sequential acceleration in the macro data. Moreover, the noise around Eskom and SAA has been going on for years now and is merely noise. The only cause for concern would be a further downgrading of the...
From the beginning of 2020, you can see from the chart that RAND (BRL) currency has depreciated more than 38% against the US dollars.
That makes it even harder for the merchants and business owners in Africa who needs to sell much more than before to make the same US dollars. EZA, the ETF tracking South Africa has also shown a lacklustre performance todate as...
The index is at support while the currency looks like it's headed down again, the only index that I'm shorting over the weekend. Look at both the currency and index futures before making your decision.
Kinda sketchy bet considering they will be trading tomorrow while the US market is closed, but it's that way every night anyways with foreign ETFs.
