economic

 

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

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Credit Ratings Agency Moody’s shows us the light on Friday night

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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 lost confidence in South Africa. The change in political leadership and a clear plan for addressing fiscal pressures (2018 Budget) were some of the factors that influenced Moody’s decision.

The result sees the rand open at 11.75/$, with room for further gains possible. Over in “Trump-land”, pressure still mounts as the rise in trade tariffs indicates negative impact to global growth. Have a great Monday!

Today’s Rate

USD/ZAR 11.6397
GBP/ZAR 16.544
EUR/ZAR 14.4440
ZAR/JPY 9.029
CNY/ZAR 1.8553
AUD/ZAR 9.0121
CHF/ZAR 12.3022
AED/ZAR 3.1685
SGD/ZAR 8.8802
NOK/ZAR 1.5138
EUR/USD 1.2408
GBP/USD 1.4212
GBP/EUR 1.
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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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Rand recovers as US Stocks whiplash

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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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