Banking

 

The Trade War heats up …Tine to Take Cover?

Leave a comment

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!

Continue reading…

Enjoyed this post? Share it!

 
 

Resolute rand – The rand remains firm

Leave a comment

The rand remains firm and opens the day below 11.80/$, spurred on by pro-rand events which transpired yesterday.

SA’s January manufacturing output rose by 2.5%, supporting the expectation that the domestic economy is gaining momentum. US President Trump dropped an administrative bombshell as he dismissed the Secretary of State Rex Tillerson.
This triggered a dollar sell-off with Wall Street taking a knock.

Dollar weakness was cushioned by an acceleration in US inflation, this resulted in speculation that the Fed will raise rates at a gradual pace. Sterling soared to a 2 week high as UK Finance Minister Philip Hammond announced a polished fiscal policy update highlighting on economic growth forecast and the budget. On the data calendar today, ECB President Draghi takes to the podium and US retail figures will be released. Have a great day.

Today’s Rate

USD/ZAR 11.7851
GBP/ZAR 16.468
EUR/ZAR 14.6108
ZAR/JPY 9.055
CNY/ZAR 1
Continue reading…

Enjoyed this post? Share it!

 
 

Jobs data boosts the dollar

Leave a comment

The dollar rebounded late Friday on news of higher-than-expected US jobs growth in February.

Hourly wages moderated, easing inflation fears and concerns that the US Fed would hike interest rates 4 times this year.

An interesting week lies ahead on the data calendar, as Russia will be in the spotlight regarding the US trade policy; SA manufacturing, EU Q4 jobs data, UK fiscal policy update and US retail sales tomorrow; ECB president’s speech on Wednesday; SA local mining and as well as the Business Confidence Index on Thursday, and inflation figures out on Friday. Have a great week!

Today’s Rate

USD/ZAR 11.8224
GBP/ZAR 16.389
EUR/ZAR 14.5698
ZAR/JPY 9.04
CNY/ZAR 1.7891
AUD/ZAR 9.3041
CHF/ZAR 12.4591
AED/ZAR 3.2217
SGD/ZAR 8.9841
NOK/ZAR 1.5249
EUR/USD 1.2319
GBP/USD 1.38559
GBP/EUR 1.1248

All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It
Continue reading…

Enjoyed this post? Share it!

 
 

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

Leave a comment

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
Continue reading…

Enjoyed this post? Share it!

 
 

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).
Continue reading…

Enjoyed this post? Share it!

 
 

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.

Continue reading…

Enjoyed this post? Share it!

 
 

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!).
Continue reading…

Enjoyed this post? Share it!

 
 

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.
Continue reading…

Enjoyed this post? Share it!

 
 

Can Blockchain-based Cryptobanks Overtake Centralized Competitors?

sponsored New all-in-one crypto ‘banks’ rival ordinary brick-and-mortar institutions, provide additional benefits. For a long time, cutting-edge technologies have comprised the flagship achievements of the centralized banking systems across the globe both economically and socially. The technology behind credit cards and online payments have driven business performance, revenue and customer ease-of-access. Just as early industry..
Continue reading…

Enjoyed this post? Share it!