Risk appetite improved a little on Monday, but gloominess over the state of the global economy has recently put the local currency on the back foot
The rand was slightly firmer against global currencies on Monday afternoon, coming off a two-month low to the dollar, ahead of risk events this week.
Jobs growth in the world’s largest economy almost stalled in February, with that economic release coming after a series of disappointing reports that signalled the global economy is slowing. China’s top central banker also made comments suggesting the US and his country were close to a deal on currency issues. The White House has accused Beijing of manipulating its currency to support exports.
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Rand at near 9-week low; risk aversion persists on growth woesThe currency had slumped to R14.5625 on Thursday, its weakest since 3 January, as it tracked the euro lower after the ECB pushed back its forecast for an interest rate hike and offered banks more cheap loans.
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High risk of rotational load shedding on Monday – EskomThe power utility says load shedding will only be implemented if 'absolutely neccessary'.
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High risk of load-shedding on MondayLoadShedding “This is a result of a shortage of capacity due to the loss of generating units at our power stations,”
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High risk of load shedding on Monday - EskomThe power utility said the the cuts would only be implemented if 'absolutely necessary'.
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High risk of #LoadShedding on Monday, Eskom warns | IOL NewsEskom said there was a high risk of rotational load shedding on Monday because it had a shortage of capacity due to the loss of generating units.
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Rand at two-month low to the dollar ahead of US jobs reportUS nonfarm payroll numbers, due for release later in the day, will be closely watched, while the euro is under pressure after the ECB’s dovish turn
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Rand takes knock after Nersa increases electricity tariffs - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The rand has taken a 1.5% dive on the back of the European Central Bank's decision not to hike rates and Nersa's decision to allow Eskom a substantial 13.8% tariff increase.
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Rand takes a beatingThe rand is losing ground against major currencies.
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#RandReport: Rand falls after ECB, Eskom tariffs newsAt 1530 GMT, the rand was 1.44% weaker at 14.4750 per dollar, compared to a close of 14.2700 on Wednesday.
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'Havoc' for rand amid plans to nationalise Reserve BankPresident Cyril Ramaphosa's announcement that government intends to continue with plans to nationalise the central bank cased 'havoc' in dealing rooms on Thursday, says Bianca Botes of Peregrine Treasury Solutions.
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