The arms deal judgment will have implications for future commissions of inquiry. The Gauteng High Court in Pretoria set aside the findings of the 2015 Seriti commission report into the billion-rand arms deal.
Light rain. More sun than clouds. Cool.
A lack of significant reforms led to the country being downgraded to junk status by both Standard & Poor’s and Fitch in April 2017. Only Moody’s has kept South Africa one notch above junk status. But for how long? asks Misheck Mutize.
This after the local unit made a comeback earlier following Fed comments earlier in the day.
SA's inflation figure came out at 4.0% for July today, which was better than the 4.5% in June.
Investors will be hanging on Jerome Powell's every word this week for clues as to whether the current nervousness gripping emerging markets is justified.
The rand closed at R15.27/$ on Thursday.
The rand recouped earlier losses to strengthen against the dollar after the Trump administration announced it would delay imposing a 10% tariff on some Chinese products.
US equity futures reversed an advance on Monday alongside European stocks as mounting unrest in Hong Kong weighed on investor sentiment.
The rand lost 3% against the dollar this week and breached the R15/$ mark. On Thursday it reached a low of R15.20/$.
The rand was on the backfoot for most of the day.
The local unit ended the day more than 1% weaker at R15.08/$.
Alwyn Van der Merwe, director of investments at Sanlam Private Wealth weighs in on what's knocking down the rand and if there could be relief in the future.
The rand closed at R15.44/$ on Thursday.
The rand closed at R15.34/$ on Tuesday.
TreasuryONE said in a note earlier that EM currencies had recovered from their weaker levels.
The rand closed at R15.41/$ on Wednesday.
Markets retreated in Asia on Tuesday as uncertainty over the China-US trade talks was compounded by increasing tensions in Hong Kong and an economic crisis in Argentina.
A combination of global risk-off sentiment caused by the US/China trade war and local concerns around Eskom have battered the local currency, say analysts.
Global stocks surged on Thursday as trade war fears eased following the better than expected strengthening of the Chinese currency.
The JSE barely closed firmer on Wednesday following another session in which the local index gave up earlier gains towards the close.
The local bourse attempted a minor rebound on Tuesday as it opened firmer along with most major global indices before momentum faded towards the close.
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