It has been, and, I'm sure will continue to be a very interesting week in terms of the South African markets this week. With the ANC elective conference in progress, we have seen major moves on the ZAR as well as the ALSI.
Since Friday, the ZAR has continued to strengthen against the USD with it reaching a levels of around R12.76 to the dollar. (Image 1)
This seems to be mainly because of the prospects of Cyril Ramaphosa winning the elections. The market seems to like the idea of this. If for some reason it doesn't turn out that way, we could see extreme volatility in the opposite direction. Either way, brace yourself for some serious volatility over the next few days.
As far as the ALSI is concerned, it has seen quite substantial movement in a downward direction. This has a