SARB Governor Kganyago yesterday indicated that the recent contraction in the current account deficit will not be sustained over the next 2 years. On the contrary, SARB expect the current account deficit to average 4.5% …
SARB Governor Kganyago yesterday indicated that the recent contraction in the current account deficit will not be sustained over the next 2 years. On the contrary, SARB expect the current account deficit to average 4.5% of GDP.
Surprisingly, all EM currencies are under pressure against USD since last Friday. There is a clear indication now that the Fed will hike rates before the end of the year after all.
The effects of higher interest rates on the Emerging Markets are now major concern. Once again this development has been affected the South African rand. Sentiment towards ZAR is particularly poor. In the meantime USD-ZAR has exceeded the highs of late September. It is clear that once again that South Africa is the most fragile country amongst the EM nations.
"South Africa's manufacturing production data for September will be published today. The manufacturing data is expected to print -0.7% mom and -2.5% yoy. In our view a negative print relative to expectations will result in further ZAR weakness towards fresh multi-year highs in USD-ZAR", says Commerzbank.
Gold prices edged lower on Monday as stronger-than-expected U.S. nonfarm payrolls data dampened hopes for aggressive Federal Reserve rate cuts, bolstering the dollar. Spot gold slipped 0.1% to $2,686.32 an ounce, while F…
On-chain data shows BTC whales moved 10000 BTC from Crypto exchanges. This indicate accumulation of BTC by whales. Japanese public company Metaplanet buys another 1 billion yen worth of Bitcoin. According to Santiment, t…
Personal income increased by 0.2% month over month In August, which was less than the 0.4% market forecast and less than the 0.3% growth in July. For the third consecutive month, real personal disposable income increased…
