Big move overnight on ZAR, weakening almost 2% from 18.86 to 19.29. This is as much about South African dynamics as it is about the strength of the mighty Dollar at the moment. Per our note yesterday, rates are staying higher for longer in the USA and risky assets like resources are on the back foot (Copper -2.6%, Platinum -3.3%).
Asia this morning is weak, with Nikkei -1.6% and Hang Seng -3%.
Nvidia (+3%) was the start performer in the S&P and is seen as a safe place to hide.
With lots of ZAR volatility, diversification of your portfolio across geographies gives you another tool to manage your concentration, Clarity makes that simple and quick.
ZAR -> USD -> NVIDIA in under 2 minutes on Clarity.
