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Reuters - 2 days ago

South African rand stable as rising precious metals offset stronger dollar

UPDATE 1-South African rand stable as rising precious metals offset stronger dollar Updates prices as of 1410 GMT, adds economist comment in paragraph 7 JOHANNESBURG, Nov 22 (Reuters) - The South African rand was little changed on Friday as stronger precious metal prices and the central bank's cautious approach to cutting interest rates offset a stronger dollar.
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Reuters - 2 days ago

FX options signal surging volatility under Trump

BUZZ-COMMENT-FX options signal surging volatility under Trump Nov 22 (Reuters) - FX options markets are signalling that traders initially underestimated the impact of a Donald Trump presidency on currency markets and are now scrambling to cover the risk of increased FX volatility before and after he takes office. EUR/USD, the most liquid and widely traded currency pair, has long been a barometer for broader FX market trends.
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Reuters - 2 days ago

Most currencies, stocks eye muted week on Ukraine concerns

EMERGING MARKETS-Most currencies, stocks eye muted week on Ukraine concerns Mainland China shares slide, India rebounds Hungary's forint set for fourth straight daily loss EM stocks index up 0.2%, FX down 0.1% By Shashwat Chauhan Nov 22 (Reuters) - Most emerging market currencies and stocks were set to end the week largely unchanged on Friday, as escalating tensions between Russia and Ukraine led investors to refrain from risky bets .
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Reuters - 2 days ago

South African rand's resilience is being eroded

BUZZ-COMMENT-South African rand's resilience is being eroded Nov 22 (Reuters) - The U.S. dollar continues to rise against emerging, commodity and risk currencies and, despite its resilience, the South African rand is struggling to maintain any kind of a recovery. Uncertainty surrounding future changes to U.S. economic policy under a Donald Trump administration has more than offset any positive domestic news for the rand.
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Reuters - 2 days ago

South African rand slips as dollar climbs on global markets

South African rand slips as dollar climbs on global markets JOHANNESBURG, Nov 22 (Reuters) - The South African rand slipped slightly in early trade on Friday, as the dollar climbed to a fresh 13-month high on global markets. At 0713 GMT, the rand traded at 18.1275 against the dollar ZAR=D3 , down about 0.2% on Thursday's closing level. The dollar was up around 0.1% against a basket of other major currencies =USD .
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Reuters - 2 days ago

South African Markets - Factors to watch on Nov 22

South African Markets - Factors to watch on Nov 22 JOHANNESBURG, Nov 22 (Reuters) - The following scheduled economic events, equity and currency market moves may affect South African markets on Friday. ECONOMIC EVENTS Inflation-linked bond auction Financial regulator updates on two-pot pension reform SOUTH AFRICAN MARKETS South Africa's rand firmed on Thursday after the central bank opted for another small cut to its main interest rate, quashing hopes of a bigger move.
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Reuters - 3 days ago

African Markets - Factors to watch on Nov 22

African Markets - Factors to watch on Nov 22 NAIROBI, Nov 22 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Friday. - - - - - GLOBAL MARKETS Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.
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Reuters - 3 days ago

South African central bank caution drives rand despite rate cut

UPDATE 1-South African central bank caution drives rand despite rate cut Updates prices as of 1602 GMT, adds analyst comment in paragraphs 6-7 JOHANNESBURG, Nov 21 (Reuters) - South Africa's rand firmed on Thursday after the central bank opted for another small cut to its main interest, quashing hopes of a bigger move. South Africa's central bank lowered its main rate ZAREPO=ECI by 25 basis points to 7.75%, as expected by economists polled by Reuters.
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Reuters - 3 days ago

South Africa's SPAR Group rises on Polish unit sale approval

BUZZ-South Africa's SPAR Group rises on Polish unit sale approval ** Grocery retailer SPAR Group's SPPJ.J shares rise 3.98% to 135 rand at 1454 GMT ** Co says sale of loss-making Polish unit approved by the Polish anti-monopoly authorities, marking the end of a costly venture ** Company expects full-year HEPS from continuing ops to rise between 6% and 16%, up from 826 cents a year ago ** Says group net debt reduced by 2 billion rand to 9.1 billion rand ($505 million) from 11.1 billion rand.
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Reuters - 3 days ago

South African central bank plays it safe with 25 bps cut

UPDATE 3-South African central bank plays it safe with 25 bps cut Repo rate lowered to 7.75% as expected Kganyago stresses global and domestic risks Further cuts seen in 2025 but in small steps Adds new governor comments in paragraphs 5-7, more context and analyst in paragraphs 10-11 By Tannur Anders, Kopano Gumbi and Alexander Winning PRETORIA, Nov 21 (Reuters) - South Africa's central bank opted for another small cut to its main interest rate on Thursday, stressing a tough global backdrop and
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Reuters - 3 days ago

South Africa's rand trapped between key levels

BUZZ-COMMENT- South Africa's rand trapped between key levels Nov 21 (Reuters) - Long-term moving averages are containing the USD/ZAR market despite volatility driven by risk aversion and a flight to safety. A tentative recovery in USD/ZAR from levels approaching the 100-day moving average support at 17.8512, with dollar bulls eyeing the 200-day moving average, today at 18.2617. Both levels have contained the market, on a closing basis, since Nov.
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Reuters - 3 days ago

Indian shares lead EM stocks lower; FX under pressure

EMERGING MARKETS-Indian shares lead EM stocks lower; FX under pressure Rate decisions in South Africa, Turkey later in the day Indian shares fall with Adani Group firms leading losses EM stocks down 0.7%, FX off 0.2% By Shashwat Chauhan Nov 21 (Reuters) - A gauge of emerging market stocks fell on Thursday, as heavyweight Indian shares lost ground after companies linked to billionaire Gautam Adani slid, while most currencies were broadly lower amid an uncertain geopolitical climate.
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Reuters - 3 days ago

South African rand slips ahead of interest rate decision

South African rand slips ahead of interest rate decision JOHANNESBURG, Nov 21 (Reuters) - South Africa's rand slipped on Thursday ahead of an interest rate decision by the central bank. At 0736 GMT, the rand traded at 18.15 against the dollar ZAR=D3 , 0.2% weaker than its previous close. Like most risk-sensitive currencies, the rand has been rocked by escalating tensions between Russia and Ukraine, which sent investors scurrying towards safe-haven assets like the dollar.
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Reuters - 3 days ago

South African Markets - Factors to watch on Nov 21

South African Markets - Factors to watch on Nov 21 JOHANNESBURG, Nov 21 (Reuters) - The following scheduled economic event, company announcements, equity and currency market moves may affect South African markets on Thursday. ECONOMIC EVENT The South African Reserve Bank to announce interest rate decision COMPANIES South Africa's Mr Price profit rises in first half on better Q2 sales South Africa's Investec to release half-year results SOUTH AFRICAN MARKETS South Africa's rand slipped on Wednesd
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Reuters - 3 days ago

Mr Price shares surge on higher profits and pick up in sales

UPDATE 3-Mr Price shares surge on higher profits and pick up in sales H1 headline earnings per share up 7.1% to 481.8 cents Sales up by double digits in October, early November Company sees pressure on consumers easing Shares hit record high Updates with CEO comment on inventory By Nqobile Dludla JOHANNESBURG, Nov 21 (Reuters) - South African budget retailer Mr Price MRPJ.J reported a 7.1% rise in first-half earnings on Thursday and said early holiday season sales were up by a double digit perce
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Reuters - 4 days ago

African Markets - Factors to watch on Nov 21

African Markets - Factors to watch on Nov 21 Nov 21 (Reuters) - The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect African markets on Thursday. - - - - - EVENTS: Senegal to announce results of parliamentary elections. The ruling Pastef party is expected to secure a majority.
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Reuters - 4 days ago

South African rand slips, inflation fall drives bigger rate cut optimism

UPDATE 1-South African rand slips, inflation fall drives bigger rate cut optimism Updates prices as of 1501 GMT, adds analyst comment in paragraph 7 JOHANNESBURG, Nov 20 (Reuters) - South Africa's rand slipped on Wednesday against a buoyant dollar, despite inflation dropping to its lowest level in more than four years, and as investors geared up for a policy announcement by the central bank on Thursday.
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Reuters - 4 days ago

Most EM currencies stabilise as geopolitical jitters abate

EMERGING MARKETS-Most EM currencies stabilise as geopolitical jitters abate South African inflation slows more than expected in October Central, eastern European equities rise after Tuesday's drop Both EM stocks and FX off 0.1% By Shashwat Chauhan Nov 20 (Reuters) - Most emerging market currencies were stable on Wednesday as worries about escalating geopolitical tensions over the war in Ukraine eased somewhat, while South Africa's rand lost ground after a surprise slowdown in inflation.
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Reuters - 4 days ago

South Africa inflation drops to lowest in over four years

UPDATE 3-South Africa inflation drops to lowest in over four years Inflation rate lowest since June 2020 Fuel a primary factor in inflation slowdown Central bank expected to cut rates by 25 bps on Thursday Adds more context in paragraphs 1-3, graphic, more economist views from paragraph 8 onwards By Bhargav Acharya and Kopano Gumbi JOHANNESBURG, Nov 20 (Reuters) - South Africa's inflation rate dropped sharply in October to its lowest level since the peak of the COVID pandemic, data showed on Wed
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Reuters - 4 days ago

South African rand steady ahead of inflation, retail sales data

South African rand steady ahead of inflation, retail sales data JOHANNESBURG, Nov 20 (Reuters) - South Africa's rand was little changed early on Wednesday ahead of highly anticipated local inflation and retail sales data. At 0851 GMT, the rand traded at 18.05 against the dollar ZAR=D3 , not far from its previous close. Trade in the local currency has been volatile in recent sessions as risk appetite waned amid escalating tensions between Russia and Ukraine.
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