Daily Market Update – 1 April 2026

📊 Market Snapshot – 1 April 2026

Markets rallied sharply on Wednesday as ceasefire hopes in the Iran conflict lifted risk appetite globally. Wall Street surged, oil prices retreated from recent highs, and gold continued its safe-haven run above $4,700/oz.

💱 Forex Rates

🪙 Commodities

🌍 Global Headlines

🇮🇷🇮🇱 Iran–Israel Conflict: Ceasefire Talk Lifts Markets

The dominant story continues to be the US-Israel military campaign against Iran. Overnight, US and Israeli forces struck a major steel plant in Isfahan, Iran. President Trump claimed that Iran’s president has asked for a ceasefire — a claim Tehran’s Foreign Ministry firmly denied, calling it “false and baseless.” Despite the denial, markets rallied on the hope that diplomatic channels are opening. Oil prices eased as traders bet on a potential de-escalation.

🚀 SpaceX Files for Record-Breaking IPO

Elon Musk’s SpaceX has confidentially filed for an IPO with the SEC, bringing the world’s most valuable private company one step closer to a public listing. The offering — codenamed “Project Apex” — has 21 banks lined up and could value SpaceX at up to $1.75 trillion. This is a landmark moment for the tech and aerospace sectors.

🌕 NASA’s Artemis II: Humans Head Back to the Moon

NASA is set to launch the Artemis II mission today — the first crewed lunar flyby since Apollo 17 in 1972. Four astronauts will embark on a 10-day journey around the Moon from Kennedy Space Center. The mission is part of the broader Artemis program aiming to return humans to the lunar surface ahead of China’s own lunar ambitions.

🇧🇩 Rohingya Aid Slashed

Hundreds of thousands of Rohingya refugees in Bangladesh’s overcrowded camps will see food assistance slashed from today, raising alarm about a deepening humanitarian crisis in the region.

📈 Global Markets

Key takeaway: The Nasdaq led the rally with a 1.62% jump, driven by tech optimism following SpaceX’s IPO filing. The VIX (fear gauge) dropped sharply by 6.3%, suggesting improving investor confidence. Small caps also surged, with the Russell 2000 up 1.55%.

Central bank watch: The SARB held its repo rate steady at 6.75% last week, citing inflation risks from elevated energy prices. The US Federal Reserve continues to monitor the inflationary impact of the Iran conflict on oil prices before making its next move.

🇿🇦 South Africa Focus

⛽ R3 Fuel Levy Cut Kicks In Today

Finance Minister Enoch Godongwana’s emergency R3-per-litre fuel levy reduction takes effect today, running until 5 May 2026. The cut was announced at the SA Investment Conference to cushion consumers from the oil price shock caused by the Iran war. Despite the relief, fuel prices remain significantly higher than the start of the year. Godongwana indicated further measures for May and June are being discussed.

💰 SARB Holds at 6.75%

The South African Reserve Bank kept its main lending rate unchanged at 6.75%, warning that the Iran conflict’s impact on energy prices will push inflation higher. The Bank signalled caution is needed before any rate adjustments.

💵 Rand Stabilises After Tough March

The rand is trading at R16.82 to the dollar — slightly firmer today but coming off a brutal March that saw a 6%+ monthly decline against the greenback. Analysts say the currency will continue to take direction from Middle East developments. The rand had a strong 2025 and started 2026 well, making it vulnerable to this correction.

💡 Financial Planning Implications

For Investors

Gold continues its remarkable run above $4,700/oz, reinforcing its role as a portfolio hedge during geopolitical uncertainty. Consider maintaining a diversified portfolio with adequate exposure to safe-haven assets. The SpaceX IPO may present future opportunities — but remember that IPO hype often exceeds initial returns.

For Borrowers

With the SARB holding steady at 6.75%, home loan and vehicle finance rates remain unchanged for now. However, if oil prices stay elevated and inflation picks up, rate hikes could return later in the year. Lock in fixed rates where possible if you’re risk-averse.

For Retirement Savers

Market volatility creates anxiety but also opportunity. Stay the course with your long-term retirement strategy. Regular contributions through volatile markets mean you’re buying at various price points — this is the power of rand-cost averaging. Don’t make emotional decisions based on short-term headlines.

The R3 fuel levy cut offers temporary relief at the pump, but budget for higher fuel costs to return from May. Adjust your monthly budget accordingly.

📞 Need Financial Guidance?

Market uncertainty creates both risk and opportunity. Whether you’re reviewing your investment portfolio, considering new coverage, or planning for retirement, our team at Old Mutual Secunda is here to help you navigate these volatile times.

📞 Call us: 017 620 3990
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Disclaimer: This market update is provided for informational purposes only and does not constitute financial, investment, tax, or legal advice. Old Mutual Secunda does not guarantee the accuracy or completeness of the information presented. Market conditions change rapidly and past performance is not indicative of future results. Always consult a qualified financial adviser before making investment decisions. Old Mutual is a Licensed Financial Services Provider (FSP 604).