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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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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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 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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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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The dollar rebounded late Friday on news of higher-than-expected US jobs growth in February.
Hourly wages moderated, easing inflation fears and concerns that the US Fed would hike interest rates 4 times this year.
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The rand is taking full advantage of the weaker dollar as it opens at 11.83/$ this morning.
Investors returned to buying emerging market currencies (as opposed to the USD) after Trump’s top economic advisor,
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The rand opens at 11.83/$ after emerging market currencies recovered overnight thanks to dollar weakness. The greenback weakened after Pres. Trump’s plans to impose tariffs on steel/aluminium imports took a big blow, with Democrats and Republicans being opposed to the idea (meaning the plan probably won’t become policy and a global trade war less likely)…
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US Fed chair Jerome Powell’s hawkish (very positive) testimony yesterday has sent the greenback on a mini-rally.
The dollar gained more than 1% against the majors as Powell expressed optimism that the US economy remains strong.
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The rand broke below 12/$ overnight as US stocks clawed back more than half their losses seen Monday.
The Zuma saga continues as today’s ANC NEC meeting along with the State of the Nation Address was postponed in order to give more time for talks between Zuma and Ramaphosa (Indicating Zuma may have one foot out “the shower” door!).
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Today’s RunToGold Podcast episode is an interview with Bearing Asset Management’s Bill Laggner, discussing economic indicators and stimulus measures, and how gold is safe in turbulent conditions.
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