Online Trading

 

Local economy showing positive signs

Leave a comment

The rand is taking full advantage of the weaker dollar as it opens at 11.83/$ this morning.

Investors returned to buying emerging market currencies (as opposed to the USD) after Trump’s top economic advisor, Gary Cohn, announced his resignation yesterday. To add to dollar losses, North Korea have reportedly ended nuclear weapons testing for the time being (following positive talks with South Korea).

Local Q4 GDP figures released yesterday supported rand gains, as economic growth increased by 3.1% in the final quarter of 2017, with an overall growth of 1.3% for the year. Today’s highlights: The US Fed’s Beige Book and EUR Q4 GDP figures are released. Happy hump day!

Today’s Rate

USD/ZAR 11.8145
GBP/ZAR 16.4149
EUR/ZAR 14.6800
ZAR/JPY 8.9432
CNY/ZAR 1.8683
AUD/ZAR 9.2208
CHF/ZAR 12.6035
AED/ZAR 3.2170
SGD/ZAR 8.9792
NOK/ZAR 1.5161
EUR/USD 1.2422
GBP/USD 1.3888
GBP/EUR 1.1182

All rates quoted a
Continue reading…

Enjoyed this post? Share it!

 
 

Trade war fears ease

Leave a comment

The rand opens at 11.83/$ after emerging market currencies recovered overnight thanks to dollar weakness.

The greenback weakened after Pres. Trump’s plans to impose tariffs on steel/aluminium imports took a big blow, with Democrats and Republicans being opposed to the idea (meaning the plan probably won’t become policy and a global trade war less likely).

Markets will keep a close eye on SA Q4 GDP released at 11.30am this morning as this will have a big role to play in Moody’s credit rating decision on the 23rd of March. Expectation are for economic growth to have moderated to 1.7% from 2% in Q3. Have an awesome Tuesday!

Today’s Rate

USD/ZAR 11.8341
GBP/ZAR 16.3599
EUR/ZAR 14.6025
ZAR/JPY 8.9784
CNY/ZAR 1.8644
AUD/ZAR 9.1902
CHF/ZAR 12.5874
AED/ZAR 3.2223
SGD/ZAR 8.9707
NOK/ZAR 1.5127
EUR/USD 1.2338
GBP/USD 1.3827
GBP/EUR 1.1205

All rates quoted are the interbank rates at time of publishing
Continue reading…

Enjoyed this post? Share it!

 
 

The budget was here… now Moody’s to fear

Leave a comment

The week ends on a high as all three major rating agencies commended the 2018 Budget speech.

Focus now shifts to Moody’s review on the 23rd March 2018. The hike in VAT (first in two decades) and debt stabilisation sees a greater possibility of Moody’s not deciding upon the dreaded downgrade.

Speculation grows as we could expect a cabinet reshuffle taking place as soon as this weekend. This follows the change in Presidency and approach to clean governance. Globally not much on the data calendar as the USD/ZAR opens at 11.68 (same as yesterday) , EUR/ZAR at 14.37 and GBP/ZAR at 16.29. Have a splendid weekend!

Today’s Rate

USD/ZAR 11.5943
GBP/ZAR 16.1970
EUR/ZAR 14.2811
ZAR/JPY 9.218
CNY/ZAR 1.8318
AUD/ZAR 9.0676
CHF/ZAR 12.4196
AED/ZAR 3.1589
SGD/ZAR 8.7662
NOK/ZAR 1.4711
EUR/USD 1.2318
GBP/USD 1.3971
GBP/EUR 1.1346

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

Enjoyed this post? Share it!

 
 

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”.
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!