A cold and wet morning has set in over the east coast.  If you are on the roads drive safe.

The rand closed out the week on Friday, stronger against the US dollar.

  • The rand benefiting from more optimism about resolving the US-China trade war.
  • China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-U.S. trade war. The 17-month long trade dispute has heightened the risks of a global recession and fueled speculation that China’s policymakers could unleash more stimulus as growth in the world’s second-largest economy cooled to nearly 30-year lows.
  • The US, non-farm payrolls rose by the most in 10 months in November as the healthcare industry boosted hiring and following the return of production workers at General Motors after a strike.
  • The unemployment rate dropped to a fifty-year low in November.
  • The preliminary reading of Michigan consumer sentiment index accelerated in December.
  • The yield on benchmark government bonds ended mixed on Friday. The yield on 2020 bond advanced to 6.85% while that for the longer-dated 2026 issue fell to 8.41%.

In early trade on Monday, the US dollar is trading marginally lower against the South African rand at R14.6184, while the euro is trading 0.1% lower at R16.1608.  The British pound has marginally declined against the South African rand to trade at R19.2186.

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

  • Germany’s industrial production unexpectedly dropped on a monthly basis in October, escalating worries about its economic growth outlook, as its manufacturing backbone takes a blow from global trade conflicts and disruptions in the auto sector.
  • With four days until the U.K. goes to the polls in a general election that will determine its relationship with the European Union, polls suggest that Prime Minister Boris Johnson is on course to win a majority — unless Brexit opponents can find a way to coordinate votes against him

In early trade on Monday, the euro marginally has slipped against the US dollar to trade at $1.1055, while it has weakened 0.1% against the British pound to trade at GBP0.8411.