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Here's the CURRENCY HUB Monthly Market Update, reflecting on last month's trading and the short-term expectations.
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Monthly Client Profit Summary (March 2024)
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Commentary From the Trading Desk
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March was a significantly stronger month for the Premium. The call our traders made to hold off in February due to low premium to protect our client's allowances paid off. As such we traded almost every day in March with the Premium spiking 3% several times, generating very strong profits of around an average of 1.5%.
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March was also better than January (which typically trades the highest in Q1), so at these levels, we feel the Premium is at a very attractive level. At these levels, we recommend trading as much as you can. Anything above 3% is a very good value.
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Volatility prevailed in the crypto markets, with sharp peaks and troughs for BTC. This will continue for the coming weeks leading up to and after the “halving” on the 20th of April. The behavior of digital assets will likely be different from the last halving event (4 years ago), driven primarily by the new BTC ETFs, and a huge resurgence in interest from both retail and institutional investors, all participating in the land grab.
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Going forward, all eyes are on our Local Elections on 29 May. This typically hurts the ZAR going into elections and strength coming out. What is interesting is most of the major investment banks have a stronger ZAR in their models driven by global rate cuts in the second half of the year.
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Tuuurtle NCR Update
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Regrettably, we need to pause the credit service. The banks no longer support NCR funds. We are working on alternative solutions. Please deal directly with the Tuuurtle Team.
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REFERAL PROGRAM - Earn a % of our profits
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For more info follow the link below. If you think you can refer larger communities, enquire about our "Whale Referral Program".
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Join our Telegram / WhatsApp Group
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Please join our Telegram and/or WhatsApp group. The purpose of these social media groups is exclusively for broadcasting news about the Premium and the markets.
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Thanks for your continued support.
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