Eskom to keep the lights on tomorrow
Local
Rand dollar exchange rate
Rand firms ahead of inflation data
Locally, consumer price-growth figures, due at 0800 GMT, are set to show a slight uptick but remain well below the central bank’s upper target of 6%.
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Rand firmer as China rate cut soothes virus anxiety
China’s central bank cut the interest rate on its medium-term lending on Monday as policymakers sought to cushion the drag on businesses from the outbreak that has severely disrupted activity.
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Rand firmer after Ramaphosa's speech
President Cyril Ramaphosa acknowledged in an annual address to Parliament on Thursday evening that growth had stalled, exacerbating high levels of unemployment and increasing hardship for millions of citizens.
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Rand stretches gains with EMs back in favour
The currency rose in the face of data on Tuesday showing unemployment remained at an 11-year peak in the fourth quarter and manufacturing output for December shrank 5.9% year-on-year. Traders said weak growth was already priced in.
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Rand firms; focus shifts to data, Ramaphosa speech
Markets will be watching out for Ramaphosa’s annual speech at the opening of Parliament on Thursday for clarity on policy and reform, amid power cuts that have knocked confidence in the economy.
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Rand falls as business confidence weakens
The rand had a torrid January, losing around 8% to the greenback as fears of the impact on global growth from the coronavirus outbreak triggered heavy selloff of emerging market assets.
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Rand edges up as relief rally slows
At 0700 GMT, the rand was 0.08% firmer at R14.7500 per dollar, a fourth consecutive start on the front foot following a torrid January that saw the currency shed nearly 8% on its way to a two-month low.
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Rand firmer as virus selloff pauses
The rand has tumbled 5.2% against the greenback since the beginning of the year, more than 4% of those losses in the past week as a risk-off emerging market selloff was accelerated by renewed signs the local economy remained weak.
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Rand tumbles to 11-week low as coronavirus, power cuts weigh
BNP Paribas economist Jeffrey Schultz said that although concern about the coronavirus outbreak was the major factor driving the market, news that power cuts were continuing added further pressure.
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Volatile rand weakens as investors weigh China virus damage
The outbreak of the coronavirus in China, with the death toll rising sharply to 132 on Wednesday as nearly 1,500 new cases were identified, remained the main market mover as investors awaited news on possible economic damage.
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Rand, bonds recover slightly from virus-related selloff
The rand’s run beyond the R14.60 technical level did not last as buyers returned, although some traders warned the recovery could be temporary as investors continue to assess opportunities and the impact of the coronavirus.
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Rand, stocks tumble as China virus wrecks risk sentiment
Fears around the potential economic damage of the coronavirus outbreak intensified as the death toll rose to 81, with investors fretting over the impact on travel, tourism and broader economic activity.
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Rand, stocks dip on virus fears
The rand’s losses ate into some of the gains made on Wednesday, when demand for riskier assets had rebounded.
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Rand rises as demand for riskier assets picks up
The rand firmed more than 1% on Wednesday, helped by a recovery in demand for riskier assets, while Dutch-based technology group Prosus led stocks lower.
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Weak growth outlook keeps rand on back foot
The currency has weakened more than 3% versus the greenback since the start of the year.
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Rand falls on domestic woes as stock rally ends
The currency has weakened 3.5% since the beginning of the year, as the country grapples with nationwide power cuts that have dented economic output and sapped investor confidence.
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Rand slips as Woolworths, Old Mutual lead stocks higher
The focus now turns to the South African Reserve Bank’s monetary policy meeting on Thursday, when it will announce its interest rate decision after keeping rates on hold at 6.5% at its last meeting.
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Rand weakens as power cuts, weak data weigh
Power cuts have been a roadblock in President Cyril Ramaphosa’s efforts to lift economic growth.
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Rand steadies ahead of manufacturing data
The rand steadied against the dollar early on Thursday, as investors awaited the latest manufacturing figures for clues on the health of the economy, amid a severe power crunch that has dimmed growth outlook.
