The local currency is extending losses, which may benefit rand hedges
The JSE could take its lead from firmer Asian markets on Monday morning, although the rand’s slide continued after Fitch Ratings downgraded SA deeper into junk status.
Oil has been battered recently due to a price war between Saudi Arabia and Russia, while the Covid-19 outbreak has also put severe pressure on demand. Gold was down 0.11% to $1,616.09 an ounce while platinum had risen 2.05% to $707.60. Brent crude was down 4.33% to $33.38 a barrel, but has risen about 28% over the past five days.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand to come under more pressure: Experts - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Market analysts expect the rand and local stocks to come under more pressure when trading on the local bourse resumes on Monday. via SABCNewsOnline
Read more »
Chinese investments help Naspers stay strong during Covid-19 crisisMultinational internet group has gained about 10% on the JSE so far this year
Read more »
Rand has nowhere to hide as R20/$ level loomsFitch maintains negative outlook after downgrade, implying the next move will be deeper into junk
Read more »
ECONOMIC WEEK AHEAD: All eyes on the rand as pandemic holds swayThe next few weeks are expected to be critical amid lockdowns to contain viral outbreak
Read more »
Pandemic the last straw as cannabis companies slide off their highTwo companies apply for bankruptcy protection as capital raises plunge from 2019 levels
Read more »
UEFA lifts Saturday afternoon TV blackout for England, ScotlandUEFA has lifted a ban on the live screening of Premier League games kicking off at 3:00 pm in England and Scotland for the rest of the season.
Read more »