The rand was little changed on Wednesday morning against major global currencies, as markets waited for direction.
This could come from the US Federal Reserve, which is set to announce its stance on monetary policy after local markets close. The Fed is not expected to change interest rates, but its forward guidance will be closely scrutinised. The dollar has weakened over the past 10 days due to market expectations of a dovish stance by the bank, said London Capital Group analyst Jasper Lawler.
At 10.01am the rand was flat at R14.4814/$ and R16.4402/€, while it had firmed 0.29% to R19.1773/£. The euro was little changed at $1.35. There is also some local data to give the market direction on Thursday. Consumer inflation for February came in as expected, rising 4.4% year on year in that month.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand firmer ahead of US Fed meetingThe dollar is under strain amid market expectations of a dovish US Fed stance, while load-shedding is a local risk factor
Source: BDliveSA - 🏆 12. / 63 Read more »
Rand steadies, investors eye US Federal Reserve policy meetingCaution prevailed among investors as Eskom said it would continue implementing power cuts on a rotational basis as it struggles with generating capacity shortages. No matter. Govt has f——d Rand,investment,tourism,ratings,business growth,jobs,inflation,and created chaos,more poverty and skills loss. Yes Zuma’s gang started and perfected it but the buck stops with Mr Ramaphosa. He has been watching this crash for 10 years.
Source: ewnupdates - 🏆 30. / 53 Read more »
US manufacturing sinks again in February: Fed - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.US manufacturing dropped sharply for the second consecutive month in February with across-the-board declines in nearly every category of product, the Federal Reserve reported Friday.
Source: SABC News Online - 🏆 32. / 51 Read more »
Lots of 'misinformation' in US about 'complex land issue' in SA - US deputy secretary of stateUS deputy secretary of state John Sullivan met several individuals and groups, including representatives of AgriSA, Grain SA and the ANC, last week. PieterDuToit The U.S.A needs to kick South Africa out of Agoa & along with its western allies impose extremely harsh sanctions on the country the moment they start expropriating land unjustly. PieterDuToit I stopped reading when I saw Afriform went on Fox News and was interviewed by Tucker 'THE BIGOT' Carlson. US should bud out of SA affairs and look at themselves first. They should know very well about land expropriation after expropriation land from the Indeginous Indians PieterDuToit Who made them world police on democracy when they support oppressive Apartheid regimes like Israel, Saudi Arabia etc. When they have laws forbidding you too boycott and criticise another country. Oh please stay the Fk out of country's affairs
Source: News24 - 🏆 4. / 80 Read more »
#RandReport: Rand weaker before next Brexit showdownAt 15:05 GMT the rand was trading at 14.4050 per dollar, 0.42% weaker than its New York close of 14.3450 on Tuesday.
Source: ewnupdates - 🏆 30. / 53 Read more »
Rand slips as Brexit chaos weighs on risk demandUncertainty over Brexit as well as caution over the prospects of a trade agreement between the United States and China has seen risk demand ebb, with investors increasingly opting for safe-haven assets like the dollar, Japanese yen and gold.
Source: ewnupdates - 🏆 30. / 53 Read more »
Rand mixed as market bets a no-deal Brexit will be avoidedThe pound brushed off a major defeat for UK Prime Minister Theresa May on Tuesday
Source: BDliveSA - 🏆 12. / 63 Read more »
Rand weakens after disappointing manufacturing dataSA’s economy has clearly faltered at the start of 2019, but activity should pick up during the course of the year, says Capital Economics senior emerging-markets economist John Ashbourne.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Rand weakens after disappointing manufacturing dataLocal manufacturing edged up just 0.3% year-on-year in January with SA’s economy getting off to weak start in 2019
Source: BDliveSA - 🏆 12. / 63 Read more »
Rand weaker before manufacturing, mining dataThe rand is one of the most heavily traded emerging market currencies and is highly susceptible to swings in global investor sentiment.
Source: ewnupdates - 🏆 30. / 53 Read more »