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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.
August proved to be another challenging month for trading, following the difficulties faced in July. Despite these obstacles, our trading desk managed to achieve notable returns. Client returns peaked at nearly 2.3%, with an average return of approximately 1.14%. This performance indicates that we have continued to outperform our competitors by around 20%.
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In the month of August, the crypto market faced significant volatility. Bitcoin experienced a brief rally but ended the month down 8% due to regulatory fears and broader market concerns, thus having a knock on effect on alt coins. Conversely, the USD/ZAR exchange rate saw the ZAR strengthen, with the USD/ZAR dropping from 19.00 to below 18.00. This improvement in the rand was driven by stronger local economic data and favorable global market conditions. Overall, while the crypto market struggled, the ZAR gained ground against the US dollar.
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We hope to see continued ZAR strength this month off the back of the news received at the end of August. Locally, Eskom has announced that the Generation Operational Recovery Plan has made a great impact impact and continues to enhance efficiencies for Eskom. If this continues, we expect to see a strengthening ZAR over the next few months. On the other hand, a rate cut is looking likely in the US as we expect this to take place at the next FOMC meeting now in September. Both of these factors should drive some ZAR strength and ultimately give the premium a chance at opening up.
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Double your profits ... Interspousal loan explained.
Using the same source of funds, "loaned" between spouses, we trade optimally for married couples. While one is waiting for AIT approval, the other is trading. Your investment with us never sleeps, while we move the funds between each bank account to optimize the AIT process and your trading cycle, thus to doubling your household profits.
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And ... you also earn a referral fee :)
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Referral 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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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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AIT applications submitted by “our” accountants up until the 31st of December will be FREE. Reach out to any of us if you would like to be introduced to an accountant.
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Update on Capitec Fees:
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Capitec is now imposing a R50 admin fee which will be added to each individual's arbitrage trade deducted before arb payout. This fee has been implemented at a bank level to cater for the additional admin pertaining to arbitrage related deals.
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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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