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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
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Commentary From the Trading Desk
We’ve approached the halfway mark for this year, where the Gross Premium has yet again exceeded expectations, spiking above 4.5% and averaging above 2.0% with consistent profits above 1.6%. It’s been all about the ZAR movements these past few months and election activity, both key drivers to the Premium.
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We saw this effect as the ZAR strengthened against the USD and went as low as R17.90. The graph below illustrates the relationship between the ZAR (Orange) and the Premium (Blue), with currency weakness leading up to the first election polls. Then ZAR strengthened with news and suggestions of stability with the election results, causing the Premium to open-up, on a tear for almost a week, then we saw a turn for the worst, surrounding all the uncertainty and delays caused by the horse-trading around coalitions. Then, another spike in the Premium as there was finally the formation of the GNU, witnessing the ZAR strengthening.
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It was an exciting month for all the markets, including equities, showing the correlation between politics, ZAR strength, and "our" Premium, while Crypto had coincidently weakened over the last few weeks, also helping the Premium. This meant some great trading opportunities, which the trading desk captured. The combination of these events, with the ZAR strength, creates a great environment for trading, and hopefully into July.
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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 related market conditions.
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REFERAL PROGRAM - Earn a 5% - 20% 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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AIT applications submitted by “our” accountants between the 1st of June and 31st August will be FREE. Reach out to any of us if you would like to be introduced to an accountant.
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Tuuurtle NCR Update
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We are currently engaged with compliance and service providers with regards a solution.
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Thanks for your continued support.
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