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

  • Business confidence in South Africa picked up in 4Q19 from a 20-year low in 3Q19.
  • In the US, the White House has released a statement, which says the U.S will reaffirm the U.S.- Hong Kong Policy Act of 1992, and review the city’s trading status annually. China has threatened to impose unspecified retaliation if the bill becomes law.  China Cites That The Hong Kong Bill Severely Meddles In The Internal Affairs OF China.  This is a developing story.
  • In the US, the Federal Reserve’s (Fed) Beige Book report stated that the US economy expanded modestly from October to mid-November and the outlook for growth was generally positive, while labour markets remained tight across the country.
  • On the data front, the Fed’s preferred inflation measure, the core personal consumption expenditure, slowed on an annual basis in October.
  • Pending home sales unexpectedly fell on a monthly basis in October.
  • Further, the Chicago Purchasing Managers’ Index (PMI) rose less-than-expected in November.
  • On the contrary, gross domestic product (GDP) slightly edged up in 3Q19, amid a stronger pace of inventory accumulation and a less steep decline in business investment.
  • Orders for durable goods rebounded in October, on a surge in demand for military aircraft.
  • The yield on benchmark government bonds fell yesterday. The yield on 2020 bond declined to 6.88% while that for the longer-dated 2026 issue fell to 8.42%.

In early trading on Thursday, the US dollar is trading marginally lower against the South African rand at R14.7590, while the euro is trading 0.1% higher at R16.2440.   The British pound has gained 0.1% against the South African rand to trade at R19.0802.

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

  • In the UK, The Labour party says leaked government documents, show that the NHS would be at risk under a post-Brexit trade deal with the US. However, Prime Minister Boris Johnson said the claim was “nonsense” and the NHS would not be part of formal talks. The 451-page document, leaked from the Department for International Trade, contains a record of discussions that have taken place between UK and US officials over a possible future trade deal.
  • Meanwhile, French consumer confidence unexpectedly rose in November.

In early trade on Thursday, the euro has advanced 0.1% against the US dollar to trade at $1.1005, while it has marginally weakened against the British pound to trade at GBP0.8513.

Today is thanksgiving in the US.   There are no same day trades today.

Technical:

USD to ZAR Stats

Stats Data Last 30 days Last 90 days
High 15.1069 15.3367
Low 14.5706 14.5613
Average 14.8109 14.8712
Volatility 0.65% 0.62%

GBP to ZAR Stats

Stats Data Last 30 days Last 90 days
High 19.5471 19.5471
Low 18.7325 18.0050
Average 19.0750 18.7476
Volatility 0.74% 0.66%

EUR to ZAR Stats

Stats Data Last 30 days Last 90 days
High 16.8544 16.9506
Low 16.1718 16.1278
Average 16.3914 16.4227
Volatility 0.72% 0.63%

AUD to ZAR Stats

Stats Data Last 30 days Last 90 days
High 10.4123 10.4123
Low 9.96527 9.96527
Average 10.1303 10.1270
Volatility 0.74% 0.57%

CNY to ZAR Stats

Stats Data Last 30 days Last 90 days
High 2.14687 2.14687
Low 2.06153 2.05723
Average 2.10852 2.10012
Volatility 0.65% 0.59%

MUR to ZAR Stats

Stats Data Last 30 days Last 90 days
High 0.41719 0.42439
Low 0.39825 0.39818
Average 0.40586 0.40846
Volatility 0.86% 0.85%