Wine is an alcoholic beverage rich in polyphenols, obtained from the alcoholic fermentation of grape must, mainly composed of water (90%), alcohol (4 – 15%), carbohydrates, sugars, proteins, mineral salts (calcium, sodium, phosphorus, potassium, zinc, fluorine and magnesium) and some vitamins (A, B1, B2, B3, B4, B6, K and J). In particular in red wine,..
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Why should you drink Wine: What is in wine and what effects does it have on you?
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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:
The IMF (International Monetary Fund) has revised SA’s growth outlook to 1.5% and 1.7% for 2018 and 2019 respectively (upwards from 0.9% for both years). Locally: March inflation and February retail sales figures are the highlights to keep an eye out for later today.
Today’s Rate
USD/ZAR 12.0404
GBP/ZAR 17.1930
EUR/ZAR 14.8744
ZAR/JPY 8.9165
CNY/ZAR 1.9144
AUD/ZAR 9.3279
CHF/ZAR 12.4262
AED/ZAR 3.2780
SGD/ZAR 9.1780
NOK/ZAR 1.5475
EUR/USD 1.2355
GBP/USD 1.4280
GBP/EUR 1.1558
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.
It’s a quiet week on the data calendar so markets will be keeping a close eye on further US/Syrian developments, with US Retail Sales figures (later today) and local inflation figures (Wednesday) the only other real highlights. Have a great week everyone!
Today’s Rate
USD/ZAR 12.0738
GBP/ZAR 17.202
EUR/ZAR 14.8962
ZAR/JPY 8.8823
CNY/ZAR 1.9207
AUD/ZAR 9.3787
CHF/ZAR 12.5432
AED/ZAR 3.2867
SGD/ZAR 9.2014
NOK/ZAR 1.5543
EUR/USD 1.2345
GBP/USD 1.4247
GBP/EUR 1.
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Tit for tat:- Tariff increase of Chinese import products
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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 plans to implement the same trade measures against the US.
The result could see higher US product prices which will lead to the Fed hiking rates more aggressively in the coming years (not good news for the rand). On the calendar today, EU inflation figures are out at 11h00.
Today’s Rate
USD/ZAR 11.8541
GBP/ZAR 16.6787
EUR/ZAR 14.5459
ZAR/JPY 8.9999
CNY/ZAR 1.8817
AUD/ZAR 9.1162
CHF/ZAR 12.3621
AED/ZAR 3.2267
SGD/ZAR 9.0281
NOK/ZAR 1.5115
EUR/USD 1.2269
GBP/USD 1.4067
GBP/EUR 1.1465
All rates quoted are the interbank rates at time of publishing and shown fo
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Is there any more good news on it’s way with SARB meeting today?
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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 to change SA’s outlook to stable, it looks like that the SARB will follow up with some more positive news, this time for consumers with a “lil’ debt”.
Despite SA being a “small fish” Moody’s is said to start affirming our improved ratings. Globally: the US and China have agreed to negotiations to finalize a trade deal therefore minimizing a potential trade war. Have a great Wednesday!
Today’s Rate
USD/ZAR 11.7224
GBP/ZAR 16.6030
EUR/ZAR 14.5231
ZAR/JPY 9.0130
CNY/ZAR 1.8637
AUD/ZAR 9.9837
CHF/ZAR 12.3262
AED/ZAR 3.1914
SGD/ZAR 8.9545
NOK/ZAR 1.5124
EUR/USD 1.2385
GBP/USD 1.4159
GBP/EUR 1.1433
The Trade War heats up …Tine to Take Cover?
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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” and a 15% – 25% tariff on certain US imports by China. The US treasury dropped another “bomb” as they plan to restrict Chinese investments in certain US sectors.
Asian and US equities sank as hits to global growth are expected. Across the pond, the bank of England left interest rates unchanged, but hinted a future increase might be in play. SA awaits Moody’s credit rating decision later tonight with the rainbow nation in a great position to dodge the dreaded downgrade. Have a great day and an “Epic” weekend!
Today’s Rate
USD/ZAR 11.7870
GBP/ZAR 16.6306
EUR/ZAR 14.5379
ZAR/JPY 8.9054
CNY/ZAR 1.8641
AUD/ZAR 9.1051
CHF/ZAR 12.4518
AED/ZAR 3.2095
SGD/ZA
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