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The markets troughs another tantrum

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The rand lost 2% against the USD yesterday, as markets had another ‘taper tantrum’.

March US retail sales were revised upwards to 0.8% (Month on month), raising fears that the US Fed may indeed raise rates a further 0.5% in 2018. Yawn, I’m sure we’re not the only ones bored of this story again?

Back home, SA’s unemployment rate remained stable at 26.7% (another shocker). Oil is nearing $80/barrel, a rather negative sign for the rand and motorists alike. Today’s attention shifts to SA retail sales and US manufacturing data, enjoy!

Today’s Rate

USD/ZAR 12.5420
GBP/ZAR 16.9276
EUR/ZAR 14.8462
ZAR/JPY 8.9777
CNY/ZAR 1.9685
AUD/ZAR 9.3848
CHF/ZAR 12.3877
AED/ZAR 3.151
SGD/ZAR 9.0722
NOK/ZAR 1.5476
EUR/USD 1.1839
GBP/USD 1.3501
GBP/EUR 1.1405

All rates quoted are the inte
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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 feel the burn. With oil prices on the rise, markets expect future inflation increases and see further support for future US Fed hikes. Are we set to see a third consecutive month of petrol price increases?

We’ll have to wait and see. Alongside other EM markets the rand opened weaker at 12.57/USD as markets try to make sense of Trumps decision. US inflation data out at 14h30 will be the only real highlight for the day. Cheers and have a wonderful Wednesday!

Today’s Rate

USD/ZAR 12.6049
GBP/ZAR 17.0860
EUR/ZAR 14.9588
ZAR/JPY 8.6876
CNY/ZAR 1.9823
AUD/ZAR 9.3902
CHF/ZAR 12.5903
AED/ZAR 3.4377
SGD/ZAR 9.4088
NOK/ZAR 1.5562
EUR
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The rand strengthened overnight

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The rand strengthened overnight as the dollar weakened amidst peace talks between the North and South Korean leaders.

Risk-on sentiment prevailed as a nuclear-free Korean Peninsula looks likely in the near future (no doubt president Trump will take credit for this). The market now shifts attention to the US Feds hiking plans and the China VS US “trade war”. The Feds interest rate decision is released Wednesday with no hike expected in May, but hints to a June hike will be what the market will be looking out for.

Other data to keep an eye on this week; SA Trade balance today (14h00), EU GDP and unemployment (Wednesday), US Trade balance and EU inflation (Thursday), and US jobs numbers (Friday). Have a great day and please note our office will be closed tomorrow as we celebrate the well-deserved, Workers Day Public holiday!

Today’s Rate

USD/ZAR 12.4179
GBP/ZAR 17.0517
EUR/ZAR 15.0287
ZA
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Spike in “Black gold” rally stirs inflation fears.

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The recent spike in oil prices could fuel global inflationary pressures, which has bolstered the USD to a 2 week high.

Rising US bond yields and easing concerns over geopolitical risks has also positively weighed on the greenback as it open’s the day above 12.1/USD. Progress in US-China trade negotiations & North Korea to suspend its nuclear ambitions to focus on economic growth and peace, have somewhat eased global markets.

It’s a jam packed week ahead with US GDP figures; ECB monetary policy meeting; local consumer confidence and March inflation figures the highlights. Have a fantastic week folks…

Today’s Rate

USD/ZAR 12.1924
GBP/ZAR 17.077
EUR/ZAR 14.9663
ZAR/JPY 8.842
CNY/ZAR 1.93715
AUD/ZAR 9.3347
CHF/ZAR 12.5011
AED/ZAR 3.3049
SGD/ZAR 9.2806
NOK/ZAR 1.5528
EUR/USD 1.227
GBP/USD 1.3997<br /
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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

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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.

This week is relatively light on data, with US CPI on Wednesday the highlight. Look for US CPI at 2.4%, with emerging markets likely to take a knock if this is the case. Locally, we’ll be eyeing public sector wage negotiations, with Union demanding CPI + 3%. It will be interesting to see how President Ramaphosa handles this hot potato. Have a great week folks.

Today’s Rate

USD/ZAR 12.0409
GBP/ZAR 16.9866
EUR/ZAR 14.7793
ZAR/JPY 8.8940
CNY/ZAR 1.9080
AUD/ZAR 9.2384
CHF/ZA
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New fears on the horizon

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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 be implemented tomorrow, consumers are set to be in the firing line.

It’s a quiet start to the week on the data front following the lengthy Easter weekend break. This weekend also saw the sad passing Winnie Madikizela-Mandela at the age of 81. Have a great week all.

Today’s Rate

USD/ZAR 11.8181
GBP/ZAR 16.6298
EUR/ZAR 14.5701
ZAR/JPY 8.9673
CNY/ZAR 1.8780
AUD/ZAR 9.1026
CHF/ZAR 12.3780
AED/ZAR 3.2180
SGD/ZAR 9.0165
NOK/ZAR 1.4984
EUR/USD 1.2332
GBP/USD 1.4078
GBP/EUR 1.1415

All rates quoted are the interbank rate
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No Zooooma Response…. No Confidence!!

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Pressure mounts as there is still no outcome as to when President Zuma will be vacating the Union Buildings.

The ANC is expected to have a press conference by 2pm today on whether Zuma would be resigning…rather late than never. In addition, opposing parties are running out of patience and are pushing for a vote of “No Confidence”.
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