Morgan Stanley Warns Rand Is Most Vulnerable to U.S. Yield Rise

outh Africa’s rand is most vulnerable to the rise in U.S. Treasury rates among its emerging-market peers, according to Morgan Stanley, which predicts further weakness for the battered currency as the country’s finances deteriorate. The rand may decline about 6 percent to 15.50 per dollar in the run-up to the medium-term budget statement on Oct. 24, Morgan Stanley strategists including Min Dai wrote in a report. Investors will watch the budget update for signs of fiscal slippage as sluggish economic growth curbs tax revenue. Read More @ https://www.bloombergquint.com/onweb/morgan-stanley-warns-rand-is-most-vulnerable-to-u-s-yield-rise#gs.05xASDs

Wall Street stumbles as bond yield climb continues

Wall Street stocks stumbled on Thursday as U.S. Treasury yields continued their ascent to multi-year highs on the latest round of strong economic data, building concerns for an acceleration of inflation.  The Dow suffered its first decline in six sessions, while both the S&P and Nasdaq had their worst day since June 25. The yield on the benchmark 10-year Treasury note US10YT=RR climbed to a seven-year high of 3.232 percent, marking its largest daily jump since the 2016 U.S. presidential election. Data on jobless claims and factory orders were the latest in a round of strong economic reports this week, putting the focus squarely on Friday’s payrolls report for September. Read More @ https://www.reuters.com/article/us-usa-stocks/wall-street-stumbles-as-bond-yield-climb-continues-idUSKCN1ME1O3?feedType=RSS&feedName=businessNews&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+reuters%2FbusinessNews+%28Business+News%29

WHAT IS THE USD INDEX SAYING?

USD stays resilient even after the yield curve goes high; what’s next for the USD before the week ends – NFP DATA. Be ready for volatility night as the US releases their employment and personal earning data. As for now the USD rally won’t put an handbrake as all data for US economy looks great.

TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.

  1. 1.00pm – Japan will release their leading indicators – little or no volatility.
  2. 2.00pm – Germany will release their factory orders and PPI – expected to be good.
  3. 2.45pm – France will release their Trade balance – should be good.
  4. 3.00pm – Swiss will release their CPI – volatility expected – we maintain BUY for CHF.
  5. 8.30pm – Canada will release their employment and trade balance alongside with US NFP data. We maintain BUY for CAD.
  6. 8.30pm – US will release their NFP data – keep your eyes on average hourly earnings – expected to be lower then the previous month. We trade after news as the market can go either directions.

Maintain good money management at all times.

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary.

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