Fin24.com | Markets LIVE: IMF feedback ‘vital’ in determining global sentiment towards SA

Fin24 team

2018-12-19 08:27

2018 12:02:43 Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions said in a note to clients that the rand has remained fairly flat, trading within the 10-cent range during Tuesday’s session.

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Last Updated at 12:19

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Bianca Botes, Corporate Treasury Manager at Peregrine Treasury Solutions said in a note to clients that the rand has remained fairly flat, trading within the 10-cent range during Tuesday’s session.

“It has started Wednesday off marginally stronger than Tuesday morning with very little direction. Christine Lagarde from the International Monetary Fund is visiting South Africa to meet with both the president and the SARB governor to discuss economic growth.

“Feedback from the IMF will be vital in determining global sentiment towards South Africa, as the country battles to stimulate its economy.

“President Donald Trump also continues to put pressure on the Fed, expressing his dismay towards interest rate hikes, however the Federal Reserve will act independently and proceed to do what it believes is best in terms of US economic performance and inflation.

“Most of the data due today is from the UK, with only current account data due for release from the US.

“Market activity is tapering down as the world heads in to the festive season. Sentiment and politics will continue to be the key drivers during this period. The range for the day is expected to be R14.22 to R14.48.”

At 12:02, the rand was changing hands at R14.32.





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