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Think Daily 19 October 2021

Kearabilwe Nonyana Kearabilwe Nonyana 19/10/2021
Think Daily 19 October 2021 Think Daily 19 October 2021
Think Daily 19 October 2021 Kearabilwe Nonyana
In Monday’s trading session in the local markets, the Top 40 closed the day down by 0.45%. The Resources 10 sector went down by 1.12%, the Financial 15 went up by 0.8%, the Industrial 25 went up by 0.38% and lastly the South African Listed Property index up by 0.43%. The Rand traded at R14.66 against the United States Dollar, R20.14 against the Great British pound, and R17.03 against the Euro. The Rand is currently showing strength against the greenback and is trading at levels last observed in mid-September 2021. The top40 has also lost the momentum that it had at the beginning of the month.



Figure 1: Top 40 two-week chart
On the commodities front, the Brent Crude oil is trading at $84.88 a barrel and WTI Crude oil is traded at $82.33 a barrel. Gold Spot price is currently trading at $1778.92; Platinum Spot is now trading at $1057.51 and lastly, Palladium Spot price is at $2068.26. The oil price has slowed down on its current rally in the price per barrel.
Across the globe, the S&P 500 closed the day up 0.21%, Dow Jones closed down 0.14% and the Nasdaq had a 0.64% climb. The FTSE 100 closed down 0.42% and the DAX was down 0.72% and CAC40 was down 0.81%. In the Asian markets, the Nikkei 225 is up 0.65% and the Hang Seng is also currently up 1.42%. Yesterday morning China had reported the country's GDP numbers at 4.9%, which was lower than the forecasted 5.2%. Today we have more companies in the United States to report results, such as Interactive Brokers, Intuitive Surgical, Netflix, Proctor & Gamble and Johnson and Johnson. Elsewhere, Bitcoin traded around $62,500. ProShares is preparing to launch its Bitcoin futures fund today.
 
Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.

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Fawad Razaqzada
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Fawad Razaqzada
Market Analyst, London

Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms. He leverages years of market knowledge to provide retail and professional traders worldwide with succinct fundamental & technical analysis. Fawad also offers trading education to help shorten the learning curves of developing traders.
 
His colleagues consider him an expert at reading price action on the charts. This together with his deep understanding of economics and fundamental analysis, and trading experience, puts him in a great position to forecast short term price movements. Fawad covers a wide range of markets, including FX, commodities, stock indices and cryptocurrencies and his comments are regularly quoted by the leading financial publications such as Reuters and Market Watch. In addition to ThinkMarkets, Fawad also provides analysis and premium trade signals on his own website at TradingCandles.com.
 
 

Carl Capolingua
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Carl Capolingua
Market Analyst, Melbourne

Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions. Specialising in Australian and US stock markets in particular, Carl uses a top-down approach to assess the global macro picture before using both technical and fundamental techniques to select stocks. He regularly appears as an expert commentator on a number of media outlets throughout the Asia-Pacific region.
 
 
 

Kearabilwe
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Kearabilwe Nonyana
Market Analyst, South Africa

Kearabilwe is an experienced Sales trader and Analyst specialising in Equity and Equity derivatives. His career in the financial markets has seen him hold various positions in global investment banks and global CFD and Spread betting firms. He has deep interest in using quantitative methods to help him understand and teach the fundamental drivers of asset prices.
 
 
 

Fawad Razaqzada
Fawad Razaqzada
Fawad is an experienced analyst and economist having been involved in the financial markets since 2010, producing market commentary and research for a number of global FX, CFD and Spread Betting brokerage firms.
Carl Capolingua
Carl Capolingua
Carl has over 20 years' experience in financial markets and has held senior analyst roles at a number of financial institutions.
Kearabilwe
Kearabilwe Nonyana
Kearabilwe is an experienced Sales trader and Analyst specialising in Equity and Equity derivatives.

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Any opinions, news, research, analyses, prices or other information contained on this website is provided as general market commentary and does not constitute investment advice. ThinkMarkets will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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