SONA: Ticked, next-up: Budget – tick tock…

By all accounts President Ramaphosa’s first address to the nation was a roaring success.

All eyes now shift to the 2018 Budget Speech set for Wednesday at 14:00. The rand’s reaction to SONA was muted, with markets waiting to see Wednesday’s balancing act. National Treasury’s focus will be on how to confront the ballooning budget deficit and government debt, amongst many other issues (with the short term goal being to avoid yet another credit rating downgrade).

A reaction from Moody’s is expected towards the end of the week with a significant USD/ZAR reaction anticipated (possibly in the rand’s favour). Have a great Monday!

Today’s Rate
USD/ZAR 11.6703
GBP/ZAR 16.3399
EUR/ZAR 14.4672
ZAR/JPY 9.137
CNY/ZAR 1.8385
AUD/ZAR 9.244
CHF/ZAR 12.5682
AED/ZAR 3.1808
SGD/ZAR 8.8955
NOK/ZAR 1.5009
EUR/USD 1.2399
GBP/USD 1.3998
GBP/EUR 1.1290

All rates quoted are the interbank rates at time of publishi
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SONA: Ticked, next-up: Budget – tick tock…

By all accounts President Ramaphosa’s first address to the nation was a roaring success.

All eyes now shift to the 2018 Budget Speech set for Wednesday at 14:00. The rand’s reaction to SONA was muted, with markets waiting to see Wednesday’s balancing act. National Treasury’s focus will be on how to confront the ballooning budget deficit and government debt, amongst many other issues (with the short term goal being to avoid yet another credit rating downgrade).
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No Zooooma Response…. No Confidence!!

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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Z-Day has arrived for Rand!

The countdown has begun as Zuma’s days as President appear to be numbered with the ANC NEC meeting later today.

After the long wait and numerous speculation “Patience” is still key. USD/ZAR opens below 12/$ as EM Markets remain strong regardless of the volatility in global stock markets.

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Rand recovers as US Stocks whiplash

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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Rand slides on US inflation fears

The rand weakened overnight as a result of better than expect US Jobs numbers and wage growth released Friday, sparking fears of higher than expected US interest rate increases during 2018.

The US stock market lost 2.5% as investors cashed out to hold USD in anticipation of a Fed hike in March. The GBP/ZAR continues to flirt with the 17/£ level as a false break to 17.10/£ on Friday was given back on speculation over Zuma’s demise.
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It’s a great time to buy property

While the times are constantly changing and our personal circumstances keep evolving as a result, owning property might still be the ultimate goal for some – and a distant dream for others. Nonetheless, it’s something that we all think about at some point because owning a home is still seen as a mark of success. But as more people become economic migrants, moving around the country and globe, following personal and professional opportunities – does it still make sense?

We recently spoke to Absa property analyst, Jacques du Toit, about current trends in the South African property market, what the data is saying about capital growth and which factors to consider when deciding whether to buy or rent.

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Successful Davos trip signals time for hard choices and renewal

The annual World Economic Forum (WEF) in Davos attracts some of the most powerful and insightful actors in the world.

Presidents, ministers, captains of industry and foremost social and political influencers gathered in one of the coldest places I’ve been to, and providing their views on the meaning of this year’s theme, Creating a Shared Future in a Fractured World.

In theory the collective influence of the participants should be sufficient to move the needle on some of the world’s most pressing issues. This is due to the incisiveness of their insights, the institutional and legislative powers they have, the resources they command and the sheer force of personal influence.

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Can I buy a house on my budget?

Let’s be honest, we all know what it feels like to have a budget stretched to its limits. Who hasn’t wished for a little more to spend – especially when you’re thinking of buying a house? And, since this is a massive investment, you need to be realistic about what you can and can’t afford. The last thing you want to do is get yourself in a situation where you can’t keep up you’re your payments.

However, while others are worrying about getting their bodies summer ready, you can get started on your own lifestyle change that will whip your budget into shape.

So, to help you make one of the biggest financial decisions you could make, we’ve compiled this flowchart to guide you through this process:

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Upcoming Blockchain Connect Conference Emphasises Cooperation Between East And West

Blockchain Connect Conference, set to happen in San Francisco in January next year, is a result of cooperation between US and Chinese companies and experts.

The upcoming Blockchain Connect Conference that will take place on Jan. 26, 2018 in San Francisco, claims to be the first of its kind to focus on the cooperation between the Chinese and US Blockchain markets.
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