Next week is big. We've got a bit of data coming out on the local front, which will give an indication of where our inflation cycle peaked and as such more insight on the interest rate outlook.
More Quotes from Michael Keenan:
We will remain stuck in a range ahead of a busy data week both locally and abroad. For the most part 6.06-6.14dollar is the preferred range.Michael Keenan
In the low interest rate environment globally, where there is hardly any yield, South Africa still offers value to foreign investors, with relatively low risk.
Michael Keenan
The weaker rand is causing some of the bulls to lock in profits. It could have been worse had it not been for the slightly better-than-expected inflation numbers and the fact that oil prices have started to drift lower.
Michael Keenan
Bonds are looking slightly overbought. Yields have come down a long way and its hard for them to push lower. We are seeing a bit of consolidation and wait for the Americans to return,
Michael Keenan
If the gold price can sustain its latest surge then I think the rand will enjoy a bit of short-covering into the weekend. I would be targeting the mid-teens, around 6.13dollar.
Michael Keenan
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