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% |