Market focus: Rand corrects on EM profit-taking and Eskom power cuts; Caution expected ahead of FOMC It was quiet session internationally yesterday from the point of macro data releases. A lot of negativity has already been priced into the EUR, so the news of Syriza’s win in the Greek elections appeared to only have aRead more
Blog
The Rand value loses ground as the week gets under way and remains under extreme pressure as the global focus is on the strike action. It would appear that the municipal workers are also looking forward to some unofficial down time. The market trends mirrored the unrest with major disinvestment and hence the 9% weakeningRead more
The rand was trading weaker this morning as all traders eye discussions at Jackson Hole. The ZAR is trying very hard to start performing better but market trends show it lacks the steam and is showing signs that it can run much stronger. The market is standing by as we are likely to see an extensionRead more
Rand loses ground in weeks’ trade as Lonmin saga persists The rand held relatively steady against major currencies in late trade. Market trends showed the rand remains weak with the crises at Marikina Mine still in the headlines everywhere. A management and union solution to the problems will be good for the rand – butRead more
Rand loses ground in early trade as it shows no sign of a breakaway The rand was a touch firmer in quiet early trade on Wednesday‚ after US retail sales boosted the US dollar, but lost ground in early morning trade. In market trends Yesterday our concerns regarding the rather sluggish price action in theRead more
Until the markets get some sort of clarity about stimulus measures from either the European Central Bank or the US Federal Reserve‚ we will continue to trade apathetically. The rand finally broke higher in late afternoon trade as month end importer demand continued and the Euro/Zar cross was unable to get through support level atRead more
Rand tracking weaker Euro as concerns around the EC economy resurfaced. Europe once again was pressed to the forefront of investor concerns‚ as yields on Spanish 10-year sovereign bonds reached 7.24 percent on Friday‚ after the state of Valencia asked for government aid to help refinance its debt. This is not the kind of situation whereRead more
The market was caught unaware as the rand weakened on Thursday after the SA Reserve Bank’s monetary policy committee cut interest rates by 50 basis points. The rand was bid at R8.1905 to the dollar from its previous close of R8.1200. The rand has adjusted weaker but it is difficult to work out the impactRead more
Monetary Policy Committee Meeting gets under way today The outcome of which will be released on Thursday, Economists are not expecting any change, as the market will most likely be focussing on the view of the Governor going forward. Locally‚ banks have said the MPC (monetary policy committee) three-day meeting would be analysed in theRead more
ZAR under pressure in afternoon trade on Thursday , tracking the euro/US dollar movement, as attention switched back to Spain’s fiscal woes and after the US Federal Reserve’s statement. The risk-off scenario is slowly creeping back in after the Fed’s disappointing statement. The US Fed extended its Operation Twist programmed – whereby the central bank sells short-termRead more