As we all unwound on Friday in readiness for the weekend, the rand staged a last minute recovery against the US dollar, euro and pound.
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Rand recovers from worst levels
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ZAR extends losses against the US dollar
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The past few months certainly haven’t been kind to the rand, with the emerging-market currency tumbling 13.6% against the US dollar so far this quarter.
But it appears that the South African Reserve Bank (SARB) won’t be taking any sudden action to bolster the currency.
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The rand strengthened overnight
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The rand strengthened overnight as the dollar weakened amidst peace talks between the North and South Korean leaders.
Risk-on sentiment prevailed as a nuclear-free Korean Peninsula looks likely in the near future (no doubt president Trump…….
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The rand continues to trade side-ways against the USD
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First up is US consumer price inflation, which is expected to come in around 2.4% (ahead of the 2% target and fuelling interest rate increase fears).
The US Fed is next, where March’s meeting minutes should provide insight into how many interest rates hikes……..
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Tit for tat:- Tariff increase of Chinese import products
Following China’s 15% tariff on US products, ‘Merica hit back yesterday laying out plans to impose a 25% tariff on Chinese import products.
The tariff could see more than 1300 Chinese imports being effected totalling more than $50 billion. In response, China said it ………
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New fears on the horizon
China’s previously announced tariff on US products came into effect yesterday with more than 120 US products being affected.
The introduction of the 15% tariff could spark fresh fears of a trade war amongst global markets. On the topic of 15%, yesterday also saw the increase of VAT and with fuel levies set to………
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Are there more good news on it’s way with SARB meeting today
Local markets shift focus to the SARB’s MPC meeting today which could confirm a possible interest rate cut.
Speculation is that Governor Lesetja Kganyago could cut the interest rate by 25bps. Following Moody’s decision………
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Credit Ratings Agency Moody’s shows us the light
Friday night ended on a high, with no dreaded downgrade from credit ratings agency Moody’s.
The announcement was greatly welcomed as it was supported with the outlook being changed to stable, which looks to restore some
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The Trade war heats up …Take cover!
The rand is stronger this morning as the US and China Trade war heats up.
“The Donald” announced plans to slap certain Chinese imports with a 25% tariff, which was met with “fire and fury”
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SA “Moody” over inflation and dollar strength
The rand strengthened overnight despite US inflation and expected US interest rate hikes.
Future US inflation is predicted to break the Feds 2% target, forcing the powers that be to increase interest rates
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