digital-currency

 

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
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Is this Mission accomplished?

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The rand held its ground after the US, France and Britain launched a “successful” air strike against Syrian chemical facilities on Friday.

The dollar strengthened after markets were convinced that the strike was a once-off event, but global equity markets weakened and Brent Crude Oil reached its highest price since 2014 at 72 USD/barrel.

It’s a quiet week on the data calendar so markets will be keeping a close eye on further US/Syrian developments, with US Retail Sales figures (later today) and local inflation figures (Wednesday) the only other real highlights. Have a great week everyone!

Today’s Rate

USD/ZAR 12.0738
GBP/ZAR 17.202
EUR/ZAR 14.8962
ZAR/JPY 8.8823
CNY/ZAR 1.9207
AUD/ZAR 9.3787
CHF/ZAR 12.5432
AED/ZAR 3.2867
SGD/ZAR 9.2014
NOK/ZAR 1.5543
EUR/USD 1.2345
GBP/USD 1.4247
GBP/EUR 1.
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The rand continues to trade side-ways against the USD

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First up is US consumer price inflation, which is expected to come in around 2.4% (ahead of the 2% target and fuelling interest rate increase fears).

The US Fed is next, where March’s meeting minutes should provide insight into how many interest rates hikes markets can expect for 2018/19. On the note of interest rate hikes, the US dollar index (USD vs a basket of global currencies) has weakened by 14% since December 2016 (the date US started raising interest rates)… economists will have to try hard to spin a story to explain that one.

A big shout out to SA’s Commonwealth Games Team, bagging 21 medals already!

Today’s Rate

USD/ZAR 12.0419
GBP/ZAR 17.1049
EUR/ZAR 14.8965
ZAR/JPY 8.8868
CNY/ZAR 1.9156
AUD/ZAR 9.3285
CHF/ZAR 12.5541
AED/ZAR 3.2789
SGD/ZAR 9.2005
NOK/ZAR 1.5499
EUR/USD
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Resolute rand – The rand remains firm

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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
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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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David Marcus, Head of Messenger at Facebook, Will Be Joining Coinbase’s Board

I’m pleased to announce that David Marcus, Vice President of Messaging Products at Facebook, will be joining Coinbase’s Board of Directors. David brings first hand knowledge of building impactful, trusted mobile-first products at scale. His experience will add breadth and depth to the Coinbase board and will help the leadership team as the company focuses..
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Welcome Asiff Hirji: Coinbase’s New President & Chief Operating Officer

Today we’re thrilled to announce that Asiff Hirji is joining Coinbase as our President & Chief Operating Officer. Asiff joins us from one of our venture capital partners, Andreessen Horowitz, where he focused on accelerating growth at a number of portfolio companies. We are incredibly excited to have him join Coinbase full time to help..
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