The rand has held its ground over the past 24hrs, but markets are expected to react as we draw closer to the highly anticipated two-day US-China bilateral trade talks.
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The trade talks set to spark rand volatility
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US vs CHINA … vs the rand!?
The rand along with other EM currencies were casualties (yet again!) as the US vs China trade war tensions continue to escalate.
China vowed to fight until the end, warning the US of “arrogance” and “making a fool of itself”. US treasury yields edged lower as investors fled to safety. The rand depreciated 0.9% against the dollar opening at 13.44/USD this morning.
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Rand recovers from worst levels
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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Are things ‘back on the bus’ now with Trump?
It’s all aboard the Trumplomacy bus, as President Trump offered China an olive branch yesterday, renewing hope that a ‘trade ‘war’ could be avoided……..
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Is this the beginning of the end!
Trump announces US withdrawal from the Iranian nuclear deal with plans to impose strict sanctions.
Uncertainty of global oil supplies grows as countries who continue business with Iran may be penalized and ………
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The Rand Losts Its Ground
The rand lost ground yesterday as SA lost out to exemption from the US steel and aluminum import tariffs (25% and 10% respectively).
An increase in the oil price and a stronger dollar added to the rands demise. The tone of tonight’s Fed interest……..
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Things are going slow and steady
The rand is stable as markets wait for significant news/data to find new direction.
Risk appetite has returned, but with continuous geo-political tensions, fears over a trade war and future Fed hikes, the local unit will most likely continue to trade in its current range. In global news:
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Is this Mission accomplished?
The rand held its ground after the US, France and Britain launched a “successful” air strike against Syrian chemical facilities on Friday.
The dollar strengthened after markets were convinced that the strike was a once-off event, but global equity markets weakened and Brent Crude Oil reached its highest price since 2014 at 72 USD/barrel.
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The rand continues to trade side-ways against the USD
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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Trade wars between US and China continues
US and China tensions continues to grab the headlines, despite disappointing US jobs data Friday.
The US created 103k jobs in March, a far cry from the expected 188k, with unemployment remaining at 4.1%. Emerging markets have recovered slightly, with the rand hugging 12/$. President Trump called China’s bluff over the weekend, threatening another $100bn in tariffs.
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