Še malo o njihovi valuti, da se dobi malo občutka.
Rand marginally softer
By Ray Faure
The rand was marginally softer in quiet noon trade on Monday, but dealers said the local currency was still very much in ranges as markets await the US Federal Reserve rate decision on Tuesday.
By 12:00 the rand was bid at 7.1975 per dollar from its overnight close of 7.1438. It was bid at 9.9622 to the euro from a previous 9.9180 and at 14.3531 against sterling from 14.3538 before.
The euro was bid at $1.3856 from $1.3870 overnight, while gold was quoted at US710.25 a troy ounce from its previous close of $707.55/oz.
"It's very quiet. There's nothing going on at the moment. We're all just waiting for the Fed decision tomorrow night," a local currency trader said.
ETM analysts said in their morning report that it is highly unlikely that there will be any significant movement in financial markets today with Japan on holiday which will make any carry trade positions a little less accessible.
The markets are also awaiting the much anticipated FOMC decision and statement on Tuesday which will keep investors cautious in their position taking.
"Most forex pairs appear to be in a rangy mood and are not reflecting any firm direction and this is well reflected in the techs which show that most investors are reluctant to take on any significant bet.
"The main challenge at the moment is trying to establish just how much of a Fed funds rate cut has already been priced in to the market. Most investors had speculated on a 50bp cut at the start of the week, but pared their expectations towards the end opting for a more realistic and conservative expectation of 25bp," they said.
The reaction from the market is expected to be derived from the accompanying statement more than just the magnitude of the cut. Any signals that there are more rate cuts to come and the US dollar is likely to remain on the defensive, they said.
For now the rand is expected to remain in a 7.08 and 7.20 range.
2007-09-17 12:06:34.123 Source: I-Net Bridge
Naslov sporočila: Valuta 
Pon Sep 17, 2007 4:02 pm
