Peregrine Treasury Solutions

16 Mar 18

Rand Slides as Investors Purchase Dollars


The Rand slumped to a one week low yesterday as a lack of momentum to push the currency beyond a recent milestone and fears of global trade war spurred investors to buy dollars.

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14 Mar 18

Rand Strengthens Amid Favourable Sentiment as US Inflation Drops


The rand opened relatively flat yesterday moving within a tight range of R11.814 to R11.86 in early trade, before breaking below the R11.80 mark after reports that US inflation had slowed month on month. Corporate treasury manager at Peregrine Treasury Solutions, Bianca Botes, said the US consumer price Index (CPI) figures would have caused waves if they were at the high end as this would have created the expectation of interest rate hikes.

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07 Mar 18

GDP Springs Q4 Surprise


ECONOMIC growth appears to have bounced back, with the gross domestic product (GDP) rebounding strongly in the fourth quarter of last year on the back of strong recoveries in agriculture, which increased output by 37.5%, lifting the hopes of the more than five million unemployed that the job market could improve.

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06 Mar 18

Rand Strengthens After Better-than-Expected GDP Data


The rand was trading at R11.81/dollar on Tuesday afternoon (6 March), in an immediate response to the announcement that South Africa’s GDP expanded by 3.1% in the fourth quarter of 2017, and by 1.3% for the year as a whole. Stats SA reported on Tuesday that country’s GDP growth exceeded National Treasury’s expectation of 1.0% growth announced during the National Budget Speech in February last year, and shot far past market expectations which ranged from 0.2% to 0.8%.

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06 Mar 18

Bonds Track Firmer Rand as SA’s Economic Outlook Improves


Local government bonds strengthened on Tuesday afternoon, in line with local currency gains, after data showed a significant pickup in economic growth in 2017. Statistics SA said earlier that the economy grew 1.3% in 2017 on an annualised basis, well ahead of market expectations, and the treasury’s forecast of 1%.

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