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Rand finds respite on US jobs data
February 7, 2014--The rand touched its strongest level in more than a week against the dollar on Friday as U.S. jobs numbers backed the case to hold off a taper in US monetary stimulus, boosting emerging market currencies.
The rand climbed to R10.9400/$ after the non-farm payrolls report, a level last reached on January 29, before losing some steam to R11.0670/$ by 16:24 GMT, 0.29% off Thursday's close.
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Source: SEC.gov
JSE fizzles after promising start
February 6, 2014--Technically the JSE is oversold and there are indications of bargain hunters being around, but confidence levels are still too low for a decent upside correction to take place.
That seems to be case as another promising start on the JSE this morning, with all the major indices strongly higher, fizzled out by midday today. By midday the market was fluctuating and most of the indices ware only marginally higher.
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Source: FIN24
Rand, government bonds find support
February 6, 2014--The rand firmed against the dollar on Thursday, with dealers seeing a consolidation phase for emerging markets during a pick-up in global risk sentiment.
The rand was up 0.3% on the dollar to R11.0950 at 06:47 GMT, compared with an R11.1300 close in New York on Wednesday.
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Source: FIN24
SA stocks end flat, African Bank plunges
February 5, 2014--South African stocks ended virtually unchanged on Wednesday as investors juggled concerns about the health of the global economy with views that a sharp sell-off in recent days has made some shares look like bargains.
African Bank Investments topped the decliners' list on the exchange as the nation's biggest unsecured loans lender warned of a sharp fall in half profits.
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Source: FIN24
Rand maintains recovery mood
January 5, 2014-The rand held broadly stable within a recent trading range against the dollar early on Wednesday, building on its slight recovery from last week's five-year lows as global risk sentiment improved slightly.
Analysts say the lack of any negative emerging market news is giving developing country assets in countries some breathing space while investors wait for clues later this week about US employment and further tapering from the Federal Reserve.
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Source: FIN24
JSE extends losing streak
February 4, 2014--South African stocks extended their losing streak to a fifth straight day on Tuesday, with the blue-chip index falling below the psychologically important 40 000 level in a continuing retreat from emerging markets around the globe.
Adcock Ingram featured on the decliners' list after it became clear that the drugmaker's $1.2bn deal with Chile's CFR Pharmaceuticals is set to fail.
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Source: FIN24
The rand's worst enemy
February 4, 2014--IT SEEMS that every second day the rand is hitting five-year lows against the dollar,, pound and euro and the necessity to make accurate and effective foreign exchange decisions is more critical than ever.
The questions everyone is asking is: Can the rand get any weaker, or is a turn imminent? If so, how long before the turn and how deep will it be?
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Source: FIN24
Greater competitiveness and regional integration critical for South Africa's growth and opportunity
February 4, 2014--Greater export competitiveness and deeper regional integration could help propel South Africa towards faster-growing exports, allowing it to achieve higher, more inclusive, job-intensive growth as laid out in the country's National Development Plan (NDP) 2030, according to the South Africa Economic Update released today.
"Helping South Africa achieve its export potential is essential for rapid job creation, high growth, and more opportunity, especially for young people." said Asad Alam, World Bank Country Director for South Africa. "We hope this report provides concrete evidence to help shape the country's ongoing debate on its economic and development future."
view the World Bank South Africa Economic Update-Focus on Export Competitiveness report
Source: World Bank
JSE hit by global emerging markets sell-off
February 3, 2014--All the major indices on the JSE were lower at midday, after an early morning rally soon ran out of steam.
Analysts said the market is still hampered by the worldwide sell-off of emerging markets, which continued on Monday morning in the Far East. The American stock markets also ended the week lower last Friday.
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Source: FIN24
Rand remains under pressure
February 3, 2014--The rand was slightly weaker against the dollar on Monday and will probably remain under pressure from continuing nervousness about emerging markets.
The rand was at R11.1900 to the dollar at 06:35 GMT, down marginally from Friday's New York close.
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Source: FIN24
