Morning report (19.4)

Local equities lost some ground on Friday, mainly on the back of a stronger currency, which made significant gains against the majors, says Nico Kelder, economist at the Efficient Group.

The bond market traded flat before the MPC meeting on Thursday this week. Commodities recovered somewhat with gold and platinum gaining more than $1 per ounce.

Oil traded slightly lower. European markets ended higher, by around three quarters of a percent, US markets were mixed with the Dow Jones gaining half a percent while Nasdaq traded slightly lower.

Far Eastern markets are trading lower this morning with losses around the 1-percent level. Trading on the markets will be dictated by the expectations on interest rates but the markets should show some strength.