LOCKDOWN LEVEL 1

TOTAL DAYS 620 – 07 HOURS 35 MINUTES 

Vaccine rollout day 263
New cases  11 125
New Deaths  1
Recovery Rate 94,3%
Vaccines Administered 26,348,830

As of today the cumulative number of COVID19 cases identified in SA is 3 031 694 with 11 125  new cases reported. Today 1 deaths have been reported bringing the total to 89 966 deaths. The cumulative number of recoveries now stand at 2 858 144 with a recovery rate of 94,3%

By the close of trade on Friday, the South African rand weakened against the US dollar.

  • In the US, ISM service activity accelerated in November at a faster pace, with an increased hiring process despite labour and supply constraints. The ISM’s services industry employment increased to a seven-month high in October, indicating that a pandemic-related labour shortage is starting to ease. With employment levels rising, services industries reduced the backlog of unfinished work last month. The ISM new orders index increased in November.
  • Non-farm payrolls increased at a slower pace, but the economy created more jobs indicating strength in the domestic labour market. The Markit service PMI data showed a slower pace of growth in November, amid supply and labour constraints in the US.
  • Jerome Powell’s pivot toward a quicker withdrawal of stimulus paves the way for a more agile Federal Reserve in 2022, one that’s willing to raise interest rates faster than expected if inflation lingers or hold back if the pandemic worsens. Powell, recently picked for another four years as chair, is responding to hot readings on the economy that caught officials by surprise, including signs that inflation is spreading and labor supply is still limited despite falling unemployment.
  • Inflation in the U.S. has risen during the past two years at the third-fastest rate out of 46 Organization for Economic Cooperation and Development and other economically significant countries. The big picture: Rising prices aren’t just a problem in the United States. Thirty-nine of the other countries analyzed by the Pew Research Center saw inflation increase between the third quarter of 2019 and the third quarter of this year. Many countries that are members of the OECD have followed a similar trend – Low inflation before COVID-19, followed by flat or falling inflation in the middle of the pandemic.
  • The yield on benchmark government bonds fell on Friday. The yield on 2026 bond fell to 7.95%. Further, the yield on 2023 bond declined to 4.96%, while that for the longer-dated 2030 issue fell to 9.59%.

In early trade on Monday 6th December 2021, the US dollar is trading lower against the South African rand at R16.0462, while the euro is trading lower at R18.1236.  The British pound has declined against the South African rand to trade at R21.2426.

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

  • In Germany, services activity improved in November, but a strong fourth wave of coronavirus infections and the new Omicron variant are capping the outlook for Europe’s largest economy.
  • In the eurozone, business activity accelerated in November, but the surge may be temporary as demand growth weakens and fears about the Omicron coronavirus variant put a dent in optimism.
  • The European Central Bank (ECB) President, Christine Lagarde stated that they may set policy for a relatively short period at this month’s meeting given increased uncertainty but should not delay a decision as markets need direction.

In early trade on Monday 6th December 2021, the euro slipped against the US dollar to trade at $1.1326, while it has weakened against the British pound to trade at GBP0.8546.