Hi subscriber,
Here's the CURRENCY HUB Monthly Market Update, reflecting on last month's trading and the short-term expectations.

Monthly Client Returns Summary (Sept 2023)

Commentary From the Trading Desk

It's been a volatile month for the ZAR (again, yes, I know) and a good month for crypto in general with BTC at its recent short-term highs. The premium itself (up until early October) has been relatively stable in the 1.7% to 2.2% range.
The ZAR weakness has been a bit of a passenger on the strong dollar trade. As we come into the end of the year, we expect increased activity in the premium as those who have held back on remaining FIA trade their balances out.
There are less than 65 trading days left in the year so time to get cracking.
Our team attended the Token2049 conference in Singapore. This was a real eye-opener to see how the digital asset ecosystem is growing. Admittedly 90% of it seems to be fly-by-nighters but the remainder seem to be serious innovations in the space. Let us know if you would like to know more about this. Our team is always happy to chat through what we saw.

NEW REFERAL PROGRAM - Earn a % of our profits

We have amended our referral program. For more info follow the link below.

Credit Facility for AIT applications

Consider our R2,5m credit facility to get your offshore tax clearance. Then trade with your own capital. For more info follow the link below.

A Few Larger News Items in Crypto & SA Macro Space to Be Aware Of

Some news items out there in the macro and digital asset space:
  • SBF's trial has started. Grab your popcorn as this is likely to be an interesting show.
  • Bloomberg has the probability of a spot BTC ETF at about 75% for this year. If not this year then early next year
  • Severe floods in the Western Cape may impact Tourism, especially in the Winelands. Keep an eye on this.
    SARB has announced they won't defend a weakening ZAR. Interesting stance with widespread implications.
Good luck out there, stay cautious, stay opportunistic.

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Thanks for your continued support.
The CURRENCY HUB Team
currencyhub.co.za
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CURRENCY HUB MARKETS (PTY) LTD, trading as CURRENCY HUB, is a consultancy enabling qualified investors to trade in cryptocurrencies. CURRENCY HUB MARKETS is a juristic representative of BLACK ONYX FUND HUB, a SARB-approved FOREX intermediary (6176) and authorised FSP (50850) in terms of the Financial Advisory and Intermediary Services Act (Act No. 37 of 2002).  Cryptocurrencies are regulated by the FSCA and BLACK ONYX FUND HUB / CURRENCY HUB MARKETS is authorised to offer financial advice, perform an intermediary service and invest with a discretionary asset management mandate (Licenses include Cat 1 & 11 and FX). Past returns do not guarantee future performance.

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