Posts by Linda Arumugam
CURRENCY PATROL
The risk-sensitive rand often turns towards global drivers such as the US monetary policy in the absence of major local economic data points. Local investors will be walking a tight rope ahead of the budget announcement today by South Africa’s finance minister. Today at 14h00 the Finance Minister Enoch Godongwana presents his budget speech. How…
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The weatherman says today is going to be a scorcher, luckily for the Rand there is a US Bank holiday and there will hopefully be some respite. Not withstanding this, the rand will be under immense pressure this week. On our Northern border [Mozambique] cyclone Freddy takes aim at Beira and the interior. We wish…
Read MoreThe SONA is now a show of the past and next up the Budget address in a weeks time. Cabinet reshuffle on the cards, what next? Yesterday, the Rand punched through the 18.00 to the dollar. and as at 06h30 on Friday 17th February 2023 is trading at USDZAR 18.15 USD = R18.24 AUD…
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These are the mid rates at 7:20 today: USD = R17.99 AUD = R12.47 GBP = R21.70 DXY = 103.71 EUR = R19.29 Brent Crude = $85.94 per barrel Market News
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Yesterday, heavy rains continued to batter 7 of the countries 9 provinces. A state of disaster has been declared. In parliament the debate around the SONA raged high, with most taking to the podium to attack and slander one another and politicking was the order of the day. These are the mid rates at 6:40…
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Heavy rains around the country with more predicted has led to a second state of disaster being declared in South Africa in under a week. Widespread flooding has wreaked havoc with more flooding predicted. On Monday morning, the local currency declined to R18.06/$, after trading around R17.50 just a week ago. It started the year…
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It’s been an active week for US fighter pilots as they’ve shot down another three “objects” since the very public downing of a Chinese spy balloon last weekend. The US does not know how these other objects stayed in the air (they weren’t balloons) or where they came from, and with typical drama the commander…
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