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Rand on the front foot

Domestic financial markets are set to be dictated to by two factors today, the rand and commodity prices. Yesterday resources stocks were punished after coal prices fell to their lowest level in three years. Precious metal prices are lower due to a slightly stronger US dollar, while the rand remain on the front foot. The local currency held onto its gains posted yesterday. US and European markets US markets ended the shortened trading week on a mixed note on Thursday after economic data suggested a contraction in the nation's services sector and a tame reading on employment. But stocks still had their third dismal week in a row, with the major indexes again posting losses as worries about rising oil prices and the fallout from the credit crisis dogged the market. The Dow Jones gained 73 points to 11 289. The Nasdaq composite... [read full story]                    

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