| USD
The dollar index found some reprieve on Friday, pausing its losing streak on the day, on the back of better than expected US jobs data. The dollar broadly endured one of the worst weeks, dipping from 97.297 to 95.173 last week. We saw the dollar getting some support, as the US jobs data came out 317k better than the market had anticipated, lifting the dollar index to a high of 95.701 before ending the session at 95.485 on the day. EUR Despite the dollar putting up a good fight to end the week on Friday, the euro was still not done with its move higher, as it was seen consolidating to the upside, ultimately closing off marginally firm. Following a sideway session on the day, the single currency reached a low of $1.1414 and a high of $1.1481 before capping its gains to end the session at $1.1451. GBP After enjoying a week’s worth of gains, on the back of a fragile dollar, the pound sterling was seen coming off from its recent highs to end the week on Friday. A combination of a stronger dollar on the day and dovish sentiment from the BoE weighed on the pound. The cable retreated to a low of $1.3505, before ending the session at $1.3525 ZAR The local currency found itself on the back foot on Friday, reversing three session’s worth of gains as US Nonfarm payroll data lifted the dollar. The US Nonfarm payrolls increased by 467 000 in the month of January, which was more than market participants had forecasted. The rand traded under pressure, depreciating to a high of R15.5299/$ before ending the session at R15.4836/$. On the data front, locally we have the Net, Gross Gold and Forex Reserves. Internationally, the UK will print House Prices and Germany will print Production data. The rand will continue to track global data and other market moving events. Expected ranges for the day:
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