Morning report - 20.1

The rand depreciated slightly against the dollar yesterday but strengthened marginally against the euro and pound, says Nico Kelder, economist the Efficient Group.

Yields on the bond market traded higher yesterday suggesting that interest rates will not be cut in February.

Commodities were flat, as the dollar remained stable against the majors. European markets closed a wee bit up yesterday but the US markets were closed.

So far this morning markets in the Far East are having a good day with both major markets trading more than 1-percent higher.

Local equities should follow European markets if the rand remains around these levels.