Rand trading at 18.14
Traded in Asia between 18.00 and 18.14
Euro at 0.9549 17.3227
Gbp at 1.0634 19.2942

US markets closed down 0.43%
Japans markets down 2.21%
Chinese markets down 0.78%

Rand traded yesterday between 17.85 and 18.02 . Weakest in 28 months , on a stronger USD globally.

USD at 22 year highs versus Euro, on concerns of higher interest rates in the US , and recession fears.
FED officials stated yesterday they would need to raise rates between 4.5 and 4.75%... more aggressive stance. Stated rates will have to stat higher for some time.
US Consumer Confidence for September increased to 108 , from 104.t expected. New orders for US manuf capital goods increased more than expected.....numbers show the US economy may be able to sustain growth even on higher rates.

BOE official stated the recent tax cuts in the UK would require higher rates , but would wait till its next meeting in November.Fund managers are selling other assets to cover resulting losses. Moodys warned these tax cuts were credit negative and concerns around fiscal credibility.

CNY trading at its weakest since 2008 , and breached the 7.20 level.

Gold trading at $ 1 625..lowest since April 2020
Brent at $ 85.25
USD index at 114.588

Support levels are 17.98 , 17.86 and 17.72
Resistance at 18.24 , 18.36 and 18.49

Regards Standard Bank Global Markets