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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Are things ‘back on the bus’ now with Trump?
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Is this the beginning of the end!
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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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You miss one and then hit one
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Fridays nonfarm payrolls figures missed the mark (163k vs. 193k expected), while unemployment data reached a 17-year low of 3.9
The job numbers confirm strength in the dollar, with the rand opening at 12.53/$ this morning. This week could see EM ….
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The Rand Losts Its Ground
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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
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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?
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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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Trade wars between US and China continues
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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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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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