Rand trading at 16.22
Traded in Asia between 16.19 and 16.23
Euro at 1.0285 16.7251
Gbp at 1.2183 19.7905

US markets closed up 1.63%
Japans markets closed today for a holiday
Chinese markets up 0.48%

Rand traded yesterday between 16.12 and 16.63 levels and strengthened after the US Inflation numbers came in slightly lower than expected.
SA Business Confidence index also increased to 110.3 in July, up from 108.5 in June. Numbers show the local business climate is slowly returning to normality.
Locally we have our Gold and Manufacturing Production Numbers out today.

Stocks globally have strengthened after the US CPI came in lower. Came in at 8.5% for July, versus 9.1% in June. Forecast was 8.7% . Mainly due to a sharp drop in gasoline prices.
Markets are now pricing in a 50 bps rate hike next month, down from a 75 bps hike prior to the report.
USD did strengthen slight overnight on comments from two FED officials... they would continue to tighten monetary policy until inflationary pressures were fully broken.

US PPI and Weekly jobless claims numbers are out this afternoon.

Gold trading at $ 1 787
USD index at 105.423
US 10 YT at 2.7914
Brent trading at $ 97.12

Support levels are 15.97 , 15.78 and 15.45
Resistance at 16.30 , 16.49 and 16.82

Regards Standard Bank Global Markets