Welcome to 2026
Markets have started the year at a sprint and in many ways that feels fitting. In the Chinese Lunar New Year, 2026 is the ‘Year of the Fire Horse’, a symbol associated with energy, ambition and rapid change. And if 2025 felt like a year of constant surprises and shifting narratives the early days of 2026 are already reminding us that change rarely waits for the calendar.
Even before the ‘Fire Horse’ arrives, risk assets have been buoyant – equities have pushed to fresh highs, key commodities have been strong and geopolitics continues to move quickly. It’s a useful prompt to stay disciplined and selective as opportunities and risks emerge.
As we step into 2026, some of last year’s pressures may have eased, but the global backdrop remains anything but straightforward. Economic cross-currents, shifting policy expectations and geopolitical tensions are still shaping outcomes.
2026 is unlikely to look much different from prior periods where volatility, shifting interest rates and global uncertainty continually reshaped market and asset-class leadership. The chart below shows how local and global asset classes have produced very different outcomes over the past 18 years – reinforcing a simple but enduring lesson for today’s environment: Diversification matters – not only across asset classes, but also across funds, where thoughtful blending of complementary strategies can help smooth the ride and broaden opportunity.
Thanks to Ninety One for this article.
South African Rand Forecast: Further Strength Ahead as Markets Reprice USD/ZAR Lower
The South African rand has strengthened into early 2026 on commodity support and improved credibility, but the rally rests on fragile foundations and faces growing resistance from policymakers and global uncertainty. See the full FXLeaders.com article here>
Gold hits record high with focus on Fed independence and Iran
Gold jumped to a record high as the US Justice Department threatened the Federal Reserve with a criminal indictment, reviving concerns over its independence, while intensifying protests in Iran kept geopolitical tensions elevated. Read the full Moneyweb article here>
Oil rises as Iran supply risk counters Venezuelan export resumption
Oil prices edged higher on Monday as escalating protests in Iran sparked concern about supplies from the Opec producer, while efforts to resume oil exports from Venezuela and expectations the market will be oversupplied this year limited gains. Read the full BusinessDay article here>
Financial Indicators by Sharedata.co.za
