LOCKDOWN 34 DAYS  07 HOURS  23 MINUTES

 By the close of trade on Wednesday, the South African rand strengthened against the US dollar.

  • Global risk appetite rose following positive data from a coronavirus drug trial.  Asian shares advanced on Thursday, riding a wave of optimism about a possible treatment for the coronavirus that set off a rally on Wall Street powerful enough to override data showing the U.S. economy had logged its worst quarterly performance since 2009.
  • The greenback lost ground, after the Fed hinted at more monetary easing and dampened expectations for a quick economic recovery from the coronavirus pandemic. The Fed kept the key benchmark rate unchanged but pledged to continue its historically aggressive policy stance until it is comfortable that the US economy is back on its feet.
  • A surge in unemployment stemming from the coronavirus shutdown of large parts of the U.S. economy is starting to push some state jobless funds toward insolvency. At least a half-dozen states already have notified the federal government that they could need to borrow billions of dollars to pay unemployment benefits because their own trust funds are running out of money.
  • On the data front, the US gross domestic product (GDP) contracted in 1Q20 at its sharpest pace since the Great Recession, as stringent measures to slow the spread of the novel coronavirus almost shut down the country.
  • The yield on benchmark government bonds fell yesterday. The yield on 2021 bond declined to 4.08% while that for the longer-dated 2030 issue fell to 10.51%.

In early trade on Thursday, the US dollar is trading 0.2% higher against the South African rand at R18.2119, while the euro is trading 0.1% higher at R19.7780.   The British pound has gained 0.2% against the South African rand to trade at R22.6708.

By the close of trade on Wednesday, the euro advanced against most of the major currencies.

  • Meanwhile, the eurozone economic sentiment index suffered its steepest decline in April, as coronavirus lockdowns brought much of the economic activity to a halt. Consumer confidence dropped in line with market expectations in April.
  • The German consumer price index (CPI) slowed to its lowest level since November 2016 on an annual basis and below the European Central Bank’s (ECB) target, giving the ECB additional leeway to deploy stimulus policy to counter the economic impact of the coronavirus pandemic.

In early trade on Thursday, the euro has slipped 0.1% against the US dollar to trade at $1.0860, while it has marginally gained against the British pound to trade at GBP0.8725.

STATS

USD to ZAR Stats

Stats Data Last 30 days Last 90 days
High 19.2637 19.2637
Low 17.8343 14.7566
Average 18.5914 16.7692
Volatility 1.33% 1.15%

GBP to ZAR Stats

Stats Data Last 30 days Last 90 days
High 23.6064 23.6064
Low 22.1274 19.1765
Average 23.0658 21.0654
Volatility 1.14% 1.28%

CNY to ZAR Stats

Stats Data Last 30 days Last 90 days
High 2.71593 2.71593
Low 2.51819 2.11179
Average 2.62857 2.38431
Volatility 1.27% 1.1%

AUD to ZAR Stats

Stats Data Last 30 days Last 90 days
High 12.1867 12.1867
Low 10.9455 9.91291
Average 11.6934 10.6894
Volatility 0.92% 1.13%

EUR to ZAR Stats

Stats Data Last 30 days Last 90 days
High 20.8168 20.8168
Low 19.6653 16.1500
Average 20.2079 18.3645
Volatility 1.15% 1.18%

MUR to ZAR Stats

Stats Data Last 30 days Last 90 days
High 0.48522 0.48522
Low 0.45280 0.39477
Average 0.46820 0.43512
Volatility 1.38% 1.28%

NOVEL CORONAVIRUS STATS

3,145,878 confirmed cases

226,316 reported deaths

971,531 recovered

South Africa

Confirmed 5,350

Dead 103

Recovered 2,073