cryptocurrency

 

Rand rallies as risk sentiment… is back!

Leave a comment

The rand strengthened overnight as US Fed Chair Jerome Powell stated the US economy is ‘not looking to over-heat any time soon’.

Investors deciphered this as the Fed not looking to raise interest rates as rapidly as previously thought. The People’s Bank of China warmed up their printing press as they added to their Quantitative Easing program (printing money) to help with continued economic growth.

This could see their commodity shopping list grow which would help the rand further, with China being SA’s biggest commodity buyer. It’s a quiet data calendar this week with US Q2 GDP the main focus (Wednesday). Have a great day from a wet and happy Mother city!

Latest Rates

USD/ZAR 14.2943
GBP/ZAR 18.368
EUR/ZAR 16.606
ZAR/JPY 7.769
CNY/ZAR 2.0933
AUD/ZAR 10.4676
CHF/ZAR 14.5392
AED/ZAR 3.8783
SGD/ZAR 10.4321
NOK/ZAR
Continue reading…

Enjoyed this post? Share it!

 
 

The trade talks set to spark rand volatility

Leave a comment

The rand has held its ground over the past 24hrs, but markets are expected to react as we draw closer to the highly anticipated two-day US-China bilateral trade talks.

Officials from the two economic heavyweights resume the contentious talks amid a cloud of uncertainty as Beijing’s feathers have already been ruffled by tariffs that will take effect today.

Looking for a affordable Medical Aid or Hospital Plan, just click here Medical Aid or just send your Name, surname, age and email address to 082 738 5586

There are no major economic releases today other than SA CPI figures (10am); and the Trump administration finds itself entangled in a legal drama. Have a wonderful Wednesday.

Latest Rates

USD/ZAR 14.3872
GBP/ZAR 18.587
EUR/ZAR 16.6602
ZAR/JPY 7.683
CNY/ZAR 2.1008

Continue reading…

Enjoyed this post? Share it!

 
 

The rand takes the gap

Leave a comment

The rand was the 2nd best performing currency last week, taking advantage of a simmering trade war and China’s announcement of a stimulus package to boost its economy (tax cuts).

Last week’s gains demonstrated how volatile the rand is, and it wouldn’t take much for the local unit to reverse gains. The big news for the week is Friday’s US jobs data, with Tuesday’s SA trade balance and a host of local data releases providing insight into SA’s probable Q2 GDP.

We’ll also keep an eye on the European Central Bank’s monetary policy update, and of course any update on the Trade War front. Our Zim friends go to the polls today, in their first election without Uncle Bob; we wish our neighbours free and fair elections.

Latest Rates

USD/ZAR 13.2019
GBP/ZAR 17.3061
EUR/ZAR 15.3847
ZAR/JPY 8.4155
CNY/ZAR 1.9360
AUD/ZAR 9.7646
CHF/ZAR 13.2622
AED/
Continue reading…

Enjoyed this post? Share it!

 
 

Rand creeps lower vs. EUR, USD and GBP

Leave a comment

While there’s been plenty of World Cup drama this week (mostly focused on VAR controversy) the rand has been having a less exciting few days.

But while ZAR hasn’t experienced a significant shift since the weekend, it has still edged lower against the US dollar, euro and pound.

Today’s high-profile US reports, including the nation’s trade balance and durable goods orders data, could have a modest impact on the rand, with upbeat data potentially undermining the emerging-market currency.

But we’ll also be looking ahead to tomorrow and the first South African data of the week. SA’s producer price index is expected to come in at 0.4% on the month and 4.3% on the year.

Latest Rates
USD/ZAR 13.54
GBP/ZAR 17.93
EUR/ZAR 15.80
ZAR/JPY 8.11
CNY/ZAR 2.05
AUD/ZAR 10.01
CHF/ZAR 13.67
AED/ZAR 3.68
SGD/ZAR 9.94
NOK/ZAR 1.
Continue reading…

Enjoyed this post? Share it!

 
 

Rand recovers from worst levels

Leave a comment

As we all unwound on Friday in readiness for the weekend, the rand staged a last minute recovery against the US dollar, euro and pound.

While high-impact data is in short supply at the start of this week, we all know it doesn’t take much to keep the currency market on its toes. The German IFO business confidence reports could have a modest impact on the EUR/ZAR exchange rate this morning, with improved sentiment potentially boosting the euro.

And there’s more confidence data on the cards tomorrow, this time from the US. Signs that consumers are in more upbeat frame of mind are generally good news for the US dollar, so the rand may start feeling the heat again if the report impresses.

Latest Rates

USD/ZAR 13.47
GBP/ZAR 17.86
EUR/ZAR 15.66
ZAR/JPY 8.06
CNY/ZAR 2.07
AUD/ZAR 10.00
CHF/ZAR 13.60
AED/ZAR 3.67
SGD/ZAR 9.92
NOK/ZAR
Continue reading…

Enjoyed this post? Share it!

 
 

ZAR extends losses against the US dollar

Leave a comment

The past few months certainly haven’t been kind to the rand, with the emerging-market currency tumbling 13.6% against the US dollar so far this quarter.

But it appears that the South African Reserve Bank (SARB) won’t be taking any sudden action to bolster the currency.

Yesterday SARB Deputy Governor Kuben Naidoo was quoted as saying: ‘If there is persistence in that currency weakness and it feeds into other prices, we would have to act. It’s not an immediate response, we will wait – because the economy is weak we can afford to wait and see. That may be a few months, maybe a few quarters’.

Today’s high-profile South African inflation report is the main news to focus on, with an unexpected result having the potential to spark yet more rand volatility.

Latest Rates

USD/ZAR 13.77
GBP/ZAR 18.10
EUR/ZAR 15.89
ZAR/JPY 8.01
CNY/ZAR 2.11
AUD/ZAR 10.11
CHF
Continue reading…

Enjoyed this post? Share it!

 
 

The markets troughs another tantrum

Leave a comment

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
Continue reading…

Enjoyed this post? Share it!

 
 

Are things ‘back on the bus’

Leave a comment

It’s all aboard the Trumplomacy bus, as President Trump offered China an olive branch yesterday, renewing hope that a ‘trade ‘war’ could be avoided.

The news momentarily helped emerging market gains, before violence in the Middle East put the rand on the back foot. Back home, Minister Gordhan continued his purge of corrupt state owned entity officials, firing the remaining Transnet board members. Yesterday also spelled the end of the nationwide bus strike, hopefully some relief for our roads!

Today’s Rate

USD/ZAR 12.4207
GBP/ZAR 16.797
EUR/ZAR 14.808
ZAR/JPY 8.862
CNY/ZAR 1.9514
AUD/ZAR 9.1668
CHF/ZAR 12.3654
AED/ZAR 3.3716
SGD/ZAR 9.2571
NOK/ZAR 1.551
EUR/USD 1.1924
GBP/USD 1.3525
GBP/EUR 1.1342

All rates quoted are the interbank rates at time of publishing and shown for indic
Continue reading…

Enjoyed this post? Share it!

 
 

Is this the beginning of the end!

Leave a comment

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
Continue reading…

Enjoyed this post? Share it!

 
 

You miss one and then hit one

Leave a comment

Fridays nonfarm payrolls figures missed the mark (163k vs. 193k expected), while unemployment data reached a 17-year low of 3.9

The job numbers confirm strength in the dollar, with the rand opening at 12.53/$ this morning. This week could see EM markets under more pressure as global developments, US CPI and trade talks continue to drive the dollar.

On local shores, SA mining and manufacturing production are likely to record negative growth in the 1st quarter of 2018. Today is a UK banking holiday so we don’t expect lots of volatility. Have a great start to your week!

Today’s Rate

USD/ZAR 12.5221
GBP/ZAR 16.9548
EUR/ZAR 14.9384
ZAR/JPY 8.7232
CNY/ZAR 1.9671
AUD/ZAR 9.4121
CHF/ZAR 12.4863
AED/ZAR 3.4096
SGD/ZAR 9.3747
NOK/ZAR 1.5511
EUR/USD 1.1932
GBP/USD 1.3541
GBP/EUR 1.1384

All rates quo
Continue reading…

Enjoyed this post? Share it!