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Good morning Voornaam,

Welcome to a new week! We are in the final two months of the year, which means there isn't much time left to give yourself the best possible foundation for 2025. Make the most of it.

In trading as in investing, a commitment to continuous learning makes all the difference. To help you on that journey, IG Markets South Africa produces excellent articles and videos on a variety of topics. Here's the latest one on moving averages and why they are so helpful. The more you read, the better you'll do out there.

Of course, the geopolitical environment is also a major driver of market movements. The latest episode of Investec's No Ordinary Wednesday podcast hosted by Jeremy Maggs features Cumesh Moodliar and Ruth Leas of Investec. They shared their key insights from the recent IMF and World Bank meetings. This podcast series has become a staple for me and I strongly suggest you check it out. You'll find it here>>>

In company news, Clientèle has shown us that they really aren't scared of doing deals. After the 1Life Insurance deal, there's now the acquisition of Emerald Life to give the group more exposure to the mass market. Clientèle has been a helpful source of returns for investors so I hope they don't get too ahead of themselves, as they are paying a rather sparkly price for Emerald.

Sephaku released a trading statement that reflects major growth in profits for the interim period. There's a really important nuance though and I'm concerned that the market seems to have brushed over it.

Along with these details, you'll get the latest on MTN Ghana's numbers, Sasfin's take-private circular and Vukile's decision to put its latest deal in Spain on hold due to the terrible floods. For details on these stories plus director dealings and the other Nibbles, read Ghost Bites here>>>

With the US dominating headlines this week (even more so than usual), I'm highlighting a recent episode of Magic Markets where we discussed US market sector rotations. It's useful to see how investors are positioning themselves, especially against the backdrop of the elections there. Find it here>>>

Finally, don't miss Dominique Olivier's latest piece on what Coca-Cola, Gillette, De Beers and Sunkist have in common.

Have a great start to your week.

THE TRADER'S HANDBOOK: Insights and strategies for currency markets

In this episode of The Trader's Handbook, Shaun Murison from IG Markets South Africa joined me once more to explore the fascinating and often misunderstood world of forex trading. We broke down the complexities of currency pairs, leverage, and volatility while dispelling common misconceptions about the risks involved. The podcast and detailed transcript are available here>>>

INVESTEC: India a gateway to outsized emerging market opportunities

As the global economy shifts from a high inflation and high interest rate environment into the next interest rate cutting cycle, global investors are casting their net wider in their search for returns. India is an attractive opportunity. Investec explains why in this article>>>

SATRIX: Shari'ah-compliant Investing

Shari'ah-compliant investing in South Africa just got a major boost with the listing of the Satrix MSCI World Islamic ETF on the JSE in October.

Yusuf Wadee of Satrix joins me to unpack this fund and the fascinating Shari'ah principles in general. There's much to learn here, regardless of whether your faith requires you to invest based on these principles.

Along with a detailed transcript, you'll find it here>>>

SATRIX: Don't wait until 2025 for your financial goals

Satrix: It’s easy to just write off the rest of this year and promise yourself that you’ll start in January. Instead, this is the time to plan and build momentum. Satrix gives some great practical tips here>>>

DOMINIQUE OLIVIER: How to know if you've been brainwashed

Coca-Cola. Gillette. De Beers. Sunkist. These are just four examples of companies that cemented their place (and their products) in popular culture. Dominique Olivier explains how they did it in this week's column>>>

Ghost Bites - local company news:

Ghost Bites: The latest on Clientele, MTN Ghana, Sasfin, Sephaku, Vukile and numerous Nibbles in Ghost Bites here>>>

Unlock the Stock - Pan African Resources

Unlock the Stock: Pan African Resources returned to the platform to talk about the performance and prospects in an environment of favourable gold prices. Enjoy the presentation and Q&A here>>>

Top concerns for global financiers in today's market

Join Investec CEOs, Cumesh Moodliar (SA) and Ruth Leas (UK), as they share their key insights from the recent IMF and World Bank meetings in Washington in the latest episode of No Ordinary Wednesday.

International Business Snippet:

Amazon beat earnings expectations and enjoyed a 6% rally on Friday, driven by revenue increasing 11% this quarter. Amazon Web Services posted 19% growth, which is higher than a year ago but well behind cloud growth at Microsoft and Alphabet (Google). It's important to remember however that these numbers aren't directly comparable, as Microsoft and Alphabet include productivity suits whereas AWS is more of an infrastructure view.

Advertising remains incredibly lucrative, with growth of 19%. Ad revenue has also looked really strong at Meta and Alphabet in the latest quarter.

Our latest research in Magic Markets Premium is on UPS. This logistics giant is focused on optimising revenue per piece heading into the all-important Black Friday and festive season. You'll find out how that works in our research for subscribers this week.

Magic Markets: Making Forex Better

Magic Markets: Future Forex is on a mission to make forex cheaper and simpler for individuals and businesses alike. Harry Scherzer joined us to talk about their evolution from a strong crypto arbitrage foundation. Find it here>>>

IG Markets Morning Call: daily macroeconomic update

Global equity benchmarks are trading modestly higher in early trade today, although exhibiting some caution ahead of a busy week in terms of economic data. As well as the tightly contested US elections on Tuesday, we have central bank meetings in the US and UK on Wednesday and Thursday respectively, where both banks are expected to lower benchmark lending rates by a quarter of a percent.

The JSE All-Share Index is expected to open up modestly higher this morning in line with its international peers.

The dollar has softened as polling data suggests that Kamala Harris is gaining significant traction at key state Iowa. The rand is a near term beneficiary of a softer dollar.

Oil prices remain around their highest levels of the last week. This is after OPEC+ announced that they will delay output increases originally scheduled for December by a further month.

Gold is modestly firmer this morning.

There is no high impact data scheduled for today.

Key Indicators: USD/ZAR R17.50/$ | US 10yr 4.38% | Gold $2,738/oz | Platinum $1,000/oz | Brent Crude $74.20

The macroeconomic update is based on the morning call update by IG Markets