Fin24 team

2019-03-05 08:42

US-China trade talks remain the hot topic, TreasuryONE said in a morning note to clients.

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09:53


US-China trade talks remain the hot topic, TreasuryONE said in a morning note to clients, with Asian stock markets ending the day in the green.

The Shanghai Composite was the biggest winner, closing 2.64% higher. Meanwhile, US stock markets all closed higher on Friday evening as risk appetite for equities rose.

“This dragged the price of safe-haven assets like Gold lower which has dropped below the $1,300/ounce level for the first time since the end of January,” the note added.

“The price of palladium is still in a bullish phase and hovers around the $1,550 mark while platinum is at $860.00. The GBP is still trading higher on optimism that the UK will not exit the EU at the end of the month without a deal and is sitting at 1.3230 with the EUR trading in 1.1360’s at the time of writing.”

The GBP is still trading higher on optimism that the UK will not exit the EU at month end without a deal, TreasuryONE noted.

The rand was the worst performer on Friday following its worst February in some decades, but further positive news on trade talks has helped it grind back lower.

——      

USDZAR- 4.1693 ·

EURUSD- 1.1362

·      

EURZAR -16.0911

·      

GBPUSD- 1.3234

·      

GBPZAR -18.7425

·      

AUDZAR- 10.0438

·      

CADZAR- 10.6635

·      

CNYZAR -2.1171

·      

ZARJPY- 7.8995

·      

CHFZAR -14.1679

Brought to you by TreasuryONE.



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