The Rand has remained stable over the past week, trading at R17.67 against the US dollar. Our inflation rate has dropped below 4% for the first time in three years, coming in at 3.8% in September. This makes the possibility of a further interest rate cut in November more likely. However, there is some speculation that the US may not …
Weekly Economic Market Overview | 23 October 2024
The Rand remained stable over the past week, trading at R17.63 against the US dollar. Brent crude oil prices remain very volatile, with the latest price dropping about 8% to $73.28 per barrel. Lower demand from China continues to be an issue, while investors are closely monitoring the conflict in the Middle East for any new developments.
Weekly Economic Market Overview | 7 October 2024
The Rand has recently strengthened/weakened to R17.31 per US dollar. Last week, it weakened from R17.12 to R17.50, a level last seen on September 19, 2024. However, the Rand is now strengthening again after last week, and we wonder if R17.12 might be a floor for the Rand. The Brent crude oil price has risen to $78 per barrel, which …
Weekly Economic Market Overview | 30 September 2024
The Rand recently strengthened to R17.16 per US dollar, a level not seen since January 2023. The weakening of the dollar, improved local economic factors, and China’s announcement of a significant economic injection all contribute to this exchange rate movement. The Brent crude oil price is currently at R71.63 per barrel. Tensions in the Middle East have escalated, with Israel …
Weekly Economic Market Overview | 11 September 2024
The Rand has strengthened to R17.9 per US dollar, approximately at the same level as in March 2023. However, we expect the Rand to trade sideways for another week until the interest rate announcements are made. The Brent crude oil price is trading lower at $71.4 per barrel. Since last Monday, the Brent crude oil price has decreased by …
Weekly Economic Market Overview | 04 September 2024
The Rand stayed on a stronger level of R17.87 per U.S. dollar and is hovering at over one-year highs mostly due to a weakening dollar and the increased likelihood of an interest rate cut in September. Brent crude oil futures traded lower on $77.06 per barrel on Monday, as OPEC’s plan to increase production next quarter weighed on the …
Weekly Economic Market Overview | 28 August 2024
The Rand has strengthened to R17.75 per US dollar. Last week, the head of the Federal Reserve Bank noted that the US inflation rate has moved closer to the 2% mark, which has brought a lot of optimism that interest rate cuts might occur on September 18, causing the Dollar to weaken and the Rand to strengthen. Local inflation figures …
Weekly Economic Market Overview | 21 August 2024
The Rand has strengthened to R17.78 per U.S. dollar and is at its strongest level since mid-July due to a weakened dollar and the increased likelihood of an interest rate cut in September. Local economists expect a 25 basis point cut in September and again in November, with inflation at its lowest in the past six months. Local investors are …
Weekly Economic Market Overview | 13 August 2024
The Rand is currently at R18.20 per US dollar. The Rand has strengthened over the past few days due to investors fearing that China and the US might enter a recession, as well as geopolitical conflict in the Middle East. International investors have given up on the idea of an emergency rate cut in the US but are still very …
Weekly Economic Market Overview | 07 August 2024
The Rand is currently at R18.18 per US dollar. The Rand has been in a downward trend over the past few weeks, where we’ve reached lower highs each time. However, it now appears that the Rand is moving sideways within the band of R18 and R18.50. The Brent crude oil price has further decreased to $77.90 per barrel. Brent crude …
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