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South African Rand
South African Rand Reports
SOUTH AFRICAN RAND Report 1 July 2009
SOUTH AFRICA
The Rand has weakened in the last few weeks as the global recession strengthened its choke hold on the South African economy. From its 9 month high in the first week of June, it has weakened to more familiar levels around 8.25 against the USD as of 23/6/9.
The recession extended into the second quarter in SA and many banks are now expecting profits to be down and admitting that they’re oper ...
SOUTH AFRICAN RAND Report 11 May 2009
SOUTH AFRICA
For The Rand is going from strength to strength backed by positive global data and stable economic and political situations in SA. The Rand didn’t weaken in response to swine flu as much as other currencies did, causing some investors to believe it is overpriced.
The Rand moved most on Friday afternoon in late trading as the US markets opened and non-payroll data was released. It was not as ...
SOUTH AFRICAN RAND Report 28 April 2009
SOUTH AFRICA
For most part of the week the Rand remained range bound as little data being released saw the Rand follow the stronger Euro as the GBP got taken to the cleaners following Wednesday’s budget.
For most part of the week the focus was on a very smooth election in SA which the ANC, as expected, one overwhelmingly. Stability was in the order of the day as the Rand strengthened further on the back ...
SOUTH AFRICAN RAND Report 21 April 2009
SOUTH AFRICA
There was little data released last week with the bank holidays and for most part of the week, the ZAR remained range bound as it followed a weaker Euro for most part of the week.
By midweek we saw the Dow Jones lose 1.7% overnight, causing the ZAR to weaken as investors were more cautious towards risk. This, along with the weaker Euro, led the Rand to its weakest levels last week. In late ...
SOUTH AFRICAN RAND Report 06 April 2009
SOUTH AFRICA
It’s been a strong end to the week for the ZAR as risk appetite increased on the back of the G20 meeting and the decision to inject $1.1 trillion into the world economy.
The ZAR started of weaker as it followed the Euro and risk aversion increased, falling back to 9.80 against the USD. Volatile markets added to the weaker Rand; however it made a comeback after data released showed SA’s trad ...
SOUTH AFRICAN RAND Report 30 March 2009
SOUTH AFRICA
The Rand started the week strong before losing some ground in late Friday trading as risk aversion increased and stock markets went down again. With GM and Chrysler seeking additional funding from the US government, one has to assume the economic crisis is far from over.
The Rand was unmoved by last week’s 1% interest rate cut in SA and the latest PPI (inflation) figures which suggests infl ...
SOUTH AFRICAN RAND Report 23 March 2009
As the Fed printed more US Dollars, demand for USD’s fell causing the currency to weaken against most currencies. The Euro rise was the biggest in a single day since the inception of the single European currency.
Emerging markets welcomed the renewed risk appetite as investors gained confidence. The Rand continues to follow the EUR/GBP for the time being as traders will watch the announcements next week. ...
SOUTH AFRICAN RAND Report 16 March 2009
After the previous week’s poor performance, the ZAR made a comeback as the Euro posted gains against the USD. The Rand also gained on the back of the Dow Jones gaining 5.8% overnight on Tuesday.
The stronger markets restored faith as US newswires reported that stocks were gaining and banks were hopefully stabilizing. Global markets followed suit and continued to trade higher, restoring confidence in invest ...
SOUTH AFRICAN RAND Report 2 March 2009
An emergency rate meeting was expected on Thursday last week and it went as far as the SABC receiving instructions to keep the cameras on standby. SA’s economy shrunk for the first time in a decade and a rate cut can still be expected, despite disappointing inflation figures.
SA’s trade deficit widened to a record gap of $1.76bn as the global crisis hits the demand for precious metals exports and local veh ...
SOUTH AFRICAN RAND Report 20 February 2009
Despite news that Zim wants to anchor its currency to the ZAR, the Rand remained strong against the Dollar. With the Rand currently below 10 to the Dollar, most analysts believe that it will still weaken in the next few weeks.
It is said that the ZAR has not yet priced in the low Dow Jones amongst other pointers that global growth outlook is bleak. Global risk aversion and worries over parent banking compa ...
