By the close of trade on Wednesday, the South African rand had strengthened against the US dollar.
• SA Chamber of Commerce and Industry’s business confidence index rose more-than-expected in September, notching its highest level since June 2019, boosted by increased merchandise export volumes.
• The US Dollar lost ground, after data showed that the number of job openings nationwide fell in August for the third month in a row and hit a one-and-a-half-year low, suggesting that employment growth was slowing largely because of ebbing demand for labour as the economy loses momentum.
• Wholesale inventories rose less-than-expected in August.
• Minutes from the Federal Open Market Committee’s (FOMC) recent meeting showed that most policymakers supported the need for an interest rate cut last month and had become more concerned with trade risks and other headwinds to the economy, such as slowing global growth and the uncertainty over Brexit.
• 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 8.23%.
In early trade on Thursday, the US dollar is trading 0.2% lower against the South African rand at R15.1406, while the euro is trading marginally lower at R16.6374. The British pound has marginally gained against the South African rand to trade at R18.5186.
On Wednesday, the euro advanced against most of the major currencies.
• In the UK, the Bank of England’s Financial Policy Committee stated that Britain’s banks and the rest of its financial system were fully prepared for a worst-case Brexit.
• The European Union (EU) Finance Ministers are discussing the final details of a pool of money that would be earmarked for the eurozone and would support investment and reforms.
In early trade on Thursday, the euro has advanced 0.2% against the US dollar to trade at $1.0988, while it has weakened 0.1% against the British pound to trade at GBP0.8985.
The RWC Organising committee in conjunction with all stakeholders have taken the decision to cancel two games.
Friday, 11 October
• Pool D match between Australia and Georgia in Shizuoka at 19:15 JST to be played as scheduled
Saturday, 12 October
• Pool A match between Ireland and Samoa in Fukuoka at 19:45 JST to be played as scheduled.
• Pool B match between New Zealand and Italy to be cancelled [New Zealand will get 2 points and squeak above SA on 16 points and Top the pool as expected].
• Pool C match between England and France to be cancelled.
Tens of thousands of fans, many of them visitors from abroad, will be affected by the cancellations – the first in the tournament’s 32-year history. Their tickets will be fully refunded
England and France have already qualified from Pool C, with Eddie Jones’s men top of the group, but Pool A hangs in the balance ahead of Japan’s final game against Scotland in Yokohama on Sunday.
If that game were abandoned, Scotland would be eliminated and Japan would qualify for their first quarter-final as shock group winners, with Ireland runners-up.
Lets hope this is the last of the adverse weather to hit the tournament.