Peregrine Treasury Solutions

27 Sep 18

JSE Opens Weaker as US Fed's Message Confuses Markets


The JSE opened weaker on Thursday as the market sought direction from a firmer rand, which in unusual trade gained on the dollar, despite the US Federal Reserve reaffirming a hawkish stance. The Fed hiked interest rates by an expected 25 basis points on Wednesday and pointed to a potential rise at its December meeting, with the likelihood of three increases in 2019.

Read More
27 Sep 18

Rand Keeps Gaining Despite US Fed Rate Hike


The rand touched R14/$ on Wednesday evening, trading 0.61% stronger at R14.03/$ by 6.00pm SA time. It had earlier in the day surprised analysts by firming during the day and maintaining its gains even after an interest rate hike by the US Federal Reserve Bank. Bianca Botes of Peregrine Treasury Solutions said in a morning note that market watchers had not expected the local currency's behaviour.

Read More
25 Sep 18

Rand Steady Ahead of Fed Rates Announcement on Wednesday


The rand held steady over the long weekend, opening at R14.37 on Tuesday morning following the public holiday on Monday. The local currency was trading at R14.38 to the greenback by 11:23. The rand had weakened slightly during Friday’s session following the announcement by President Cyril Ramaphosa of a stimulus package meant to reignite economic growth.

Read More
21 Sep 18

Ramaphosa's Stimulus Plan Could Push Rand to R14/$


The rand started Friday off on the front foot, adding to Thursday's 2% gain against the US dollar on good CPI data, healthy inflow in the bond market and as traders await President Cyril Ramaphosa's stimulus package. The local unit added 0.5% to R14.21 to the US dollar before retreating to the previous session's closing of R14.28. A weaker dollar hit by news from China about tariff and currency moves that could ease trade tensions, also buoyed the currency.

Read More
21 Sep 18

Next Interest Rate Move in November: Experts Weigh In


SA Reserve Bank (SARB) governor Lesetja Kganyago regards SA’s economic battle as mostly structural, therefore, requiring firm action by government. He pointed out that monetary policy is mostly successful when addressing cyclical growth, said Bianca Botes, corporate treasury manager at Peregrine Treasury Solutions.

Read More