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The trade talks set to spark rand volatility

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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.

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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

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Hawkish Powell boosts the dollar

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The rand lost momentum after US Fed Chair Jerome Powell took to the podium at his first congressional testimony yesterday.

The local unit opens at 13.27/$ after Powell spoke hawkishly regarding the US economy, raising expectations of further interest rate hikes during the course of 2018. Locally the rand also took a slight knock after Q2 consumer confidence dropped from record highs in the previous quarter, but the data still indicated that consumers are optimistic about the local economy.

On the data calendar today: local inflation and retail sales figures are released, with markets eagerly awaiting the SARB’s interest rate decision tomorrow.

Latest Rates

USD/ZAR 13.3207
GBP/ZAR 17.4367
EUR/ZAR 15.4941
ZAR/JPY 8.4887
CNY/ZAR 1.9853
AUD/ZAR 9.7924
CHF/ZAR 13.2854
AED/ZAR 3.6273
SGD/ZAR 9.7356
NOK/ZAR 1.6288Continue reading…

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It’s still all about the US

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The local unit scored somewhat of a consolation goal on Friday (sorry Argentina fans), as global equities and EM markets ended the week stronger.

Eyes are still on the US though as June Fed minutes and job numbers will be out later this week. The data, coupled with escalating trade tensions between the US and China, could provide more volatility than the Spain vs. Russia penalty shootout.

On local shores, consumers are set to be hit with another sucker punch as the price of petrol is set to increase by 26c/litre. Combine this with higher municipal rates, taxes and electricity tariffs and you’ve got yourself an already overworked wallet. Have a great week and batten down the hatches if you’re in the Cape!

Latest Rates

USD/ZAR 13.83
GBP/ZAR 18.21
EUR/ZAR 16.09
ZAR/JPY 7.99
CNY/ZAR 2.07
AUD/ZAR 10.19
CHF/ZAR 13.95
AED/ZAR 3.76
SGD
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Rand creeps lower vs. EUR, USD and GBP

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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.
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Rand recovers from worst levels

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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
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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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Are things ‘back on the bus’

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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
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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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You miss one and then hit one

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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
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The Rand Losts Its Ground

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The rand lost ground yesterday as SA lost out to exemption from the US steel and aluminum import tariffs (25% and 10% respectively).

An increase in the oil price and a stronger dollar added to the rands demise. The tone of tonight’s Fed interest rate decision (20h00) is one to keep an eye on. Even though a hike is not expected, any hints to future interest rate hikes and/or US inflation forecasts could see the market react.

EU GDP and unemployment figures released today (11h00) is also one to keep a look out for. Have a great day!

Today’s Rate

USD/ZAR 12.5989
GBP/ZAR 17.1505
EUR/ZAR 15.1303
ZAR/JPY 8.7198
CNY/ZAR 1.9818
AUD/ZAR 9.4657
CHF/ZAR 12.6592
AED/ZAR 3.4310
SGD/ZAR 9.4372
NOK/ZAR 1.5493
EUR/USD 1.2012
GBP/USD 1.3959
GBP/EUR 1.1437

All rates quoted are the interbank ra
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