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 have declined since February this year and are at their lowest level in the past three years. This, along with the high possibility of lower interest rates in the USA, significantly increases the likelihood that we could also see a drop in interest rates on September 19. The question is, will it be 25 basis points or 50 basis points?

The Brent crude oil price is trading higher at $79.76 per barrel. The price increase is attributed to the rising conflict in the Middle East, which could impact oil availability.