In the space of a very disruptive week, the South African rand has bounced between R13.98 and R13.32 against the US dollar. Zuma surprised all by letting the state capture document be released. The rand subsequently strengthened. The U.K. have announced that Article 50 (official commencement of Brexit) will not be rolled out until a fair parliamentary vote is completed. This will push out the Brexit discussions to mid-2017. The British sterling strengthened off of the news positively affecting stocks like Investec, Intu properties and Capital and Counties. The S&P 500, NASDAQ and DOW Jones are now all sitting at important technical levels that could make or break the investor’s year. Bring on the elections!!
Read more in the document below:
Prices are skyrocketing, but only for the things you actually need | Cannon Asset Managers research