|Day's Range||13.254 - 13.341|
|52 Week Range||11.4971 - 14.5708|
Emerging markets have been struggling with rising global interest rates and stronger dollar, among other bearish factors, in 2018. But you can also add ‘hot money’ inflows to the list, as investments that could reverse quickly in times of trouble, bringing even more downside risk to emerging-market assets, according to economists at the Institute of International Finance.
Assessing Renk Aktiengesellschaft’s (FRA:ZAR) past track record of performance is an insightful exercise for investors. It allows us to reflect on whether or not the company has met or exceedRead More...
Turkey will head to the polls on Sunday to vote for a new president, but the snap election called by incumbent President Recep Tayyip Erdogan comes as the emerging economy is beset by a flagging currency and economy, setting the stage for a downbeat stretch for the country.
South Africa's rand retreated early on Thursday before the release of first-quarter current account data, giving back the previous session's gains as global concern over a simmering trade war resumed. * At 0630 GMT the rand was 0.73 percent weaker at 13.7475 per dollar, sliding back from Wednesday's 13.5600 as an emerging-market recovery petered out. * "We believe the risk-on phase of the last two years is over," said strategists at Nedbank Newels Heyneke and Mehul Daya in a note.
Investing.com - The dollar slipped lower against a currency basket on Wednesday as investors awaited the conclusion of the Federal Reserve’s two-day policy meeting.
After sharp selloffs in other emerging-market currencies, analyst now wonder whether the rand is simply the next shoe to drop. Last week Friday, the U.S. dollar rose back above 13 rand (USDZAR)(ZAR) for the first time since December, when South Africa was facing uncertainty about its political future. Since then, President Jacob Zuma, who faced accusations of corruption and was known to be rather fiscally irresponsible, was replaced by the market-friendly Cyril Ramaphosa.
South Africa's rand was set for a loss of around 1 percent against the dollar this week, as a manufacturing survey suggested that the economy was not yet firing on all cylinders under President Cyril Ramaphosa. The rand traded mostly in positive territory in a volatile session on Friday, but it could not make up for losses earlier in the week that were linked to disappointing economic data and concerns over U.S. trade policy. Stocks rose, lifted by gains for bourse heavyweight Naspers and ArcelorMittal's South Africa unit.
South Africa's rand weakened against the U.S. dollar on Thursday after the country's trade balance for the year so far swung to a deficit compared with a surplus last year, pointing to the fragility of the economic rebound. It was given a further shot by a global equities rally spurred by Chinese data and renewed efforts in Italy to form a government. South Africa's revenue agency said the trade balance for January to April was a deficit of 17.65 billion rand ($1.39 billion), compared with a surplus of 8.52 billion for the comparable period in 2017.
South Africa's rand weakened in cautious trade on Friday as investors took profits from a rally in the previous session ahead of a ratings review decision by S&P Global Ratings. At 1522 GMT the rand was 0.62 percent weaker at 12.5000 to the dollar. S&P publishes its review of the country's credit rating after local markets close.
Turkey is on the verge of a currency crisis that could pose a threat to President Recep Tayyip Erdogan’s re-election bid, and he may have himself partly to blame. The Turkish lira is down around 24% against the U.S. dollar this year, and has dropped some 16% since the beginning of May, according to FactSet data. Erdogan last month called for an election on June 24, nearly a year-and-a-half ahead of schedule, in what was seen as a bid to capitalize on his popularity and consolidate power.
South Africa's rand weakened in cautious trade early on Friday as investors took profits from a rally in the previous session ahead of a ratings decision by S&P Global. * At 0640 GMT the rand was 0.42 percent weaker at 12.4675 to the dollar. * The rand has attracted some short interest in lieu of any major domestic drivers in the past two weeks, with some traders targeting the 12.40 mark as a sell point, with an eye on the rampant dollar and overall risk sentiment.
South Africa's rand was slightly stronger on Thursday as a recent rally in the dollar lost steam and the Reserve Bank left its main lending rate unchanged, as expected. At 1550 GMT, the rand was trading at 12.4475 against the dollar, around 0.1 percent stronger than its close on Wednesday. The rand's gains mean it is now up almost 3 percent since the end of last week, an especially strong performance given that emerging market currencies have been feeling the heat recently on global markets.
South Africa's CPI jumped to 4.5 percent in April as a higher rate of value added tax and a sharp increase in fuel prices wiped away the previous month's dip in prices. "The South African Reserve Bank has acknowledged the favourable trend in inflation and growth in the early months of 2018, lowering the repo rate by 25 basis points in March," said Elize Kruger, an economist at NKC African Economics.
Moody's Investors Service today confirmed the long-term issuer and senior unsecured ratings of the Government of South Africa at Baa3, as well as the (P)Baa3 senior unsecured shelf and senior unsecured ...
South Africa's rand surrendered some gains on Friday but remained near its three-year best ahead of Cyril Ramaphosa's maiden state of the nation address after he was sworn in as the country's president. Other South African assets continued to rally, with bond yields on the benchmark at their lowest since December 2015, while five-year credit default swaps (CDS) fell 3 basis points (bps) from Thursday's close. On Wednesday Jacob Zuma resigned as president after of weeks of pressure, ending a nine-year tenure punctuated by scandals, stagnant economic growth and policy uncertainty.
South Africa's rand slipped against the dollar in early Asian trade on Tuesday on reports the African National Congress party executive committee had decided to "recall" or remove President Jacob Zuma as head of state. The rand surrendered early gains made following reports the ANC had given the embattled leader 48 hours to resign, with the latest development raising the prospect of a showdown between Zuma's allies and those who want Deputy President Cyril Ramaphosa to take over. Since Deputy President Cyril Ramaphosa was elected party leader in December, Zuma has faced mounting calls from his party to end his scandal-plagued second term due to run out mid-2019.
South Africa's rand edged firmer on Thursday but remained above the crucial 12.00 mark against the dollar as the continuing stalemate over President Jacob Zuma's future capped demand. Stocks fell on Thursday led by mining firm Gold Fields after the firm flagged lower earnings. The unit this week has struggled to push beyond last week's rally to 11.8500, a touch off its 2-1/2 year best, with optimism over the speedy removal of Zuma from office waning, leaving the currency open to profit-taking.
South Africa's rand weakened as much as 1.7 percent on Wednesday to its worst performance in nearly three weeks after the ruling African National Congress said an early exit for President Jacob Zuma had not been discussed at a party meeting. Initially hit by softening demand for emerging market assets as global bond yields picked up, the rand's losses accelerated to a session-low 12.55 shortly after the ANC Secretary-General Ace Magashule told reporters Zuma's removal was not on the agenda of a meeting of the party's top decision-making body.
South Africa's rand traded flat on Friday in thin pre-holiday trade with previous gains spurred by the election of Cyril Ramaphosa as the new leader of the governing African National Congress party still largely intact.
Categories: Europe Stock Alerts Yahoo FinanceGet full CapitalCube analysis *Disclaimer : This is as of previous day’s closing price. Technical Indicators Below is a quick look at 5 technical indicators for RENK AG. More studies are available on the Technical Chart. Indicator Signal Closing Price above/below 50 Day Moving Average Bullish Closing Price above/below 200 Day Moving Average Bullish 50 ... Read more (Read more...)
South Africa's rand strengthened on Friday after a court ruled that President Jacob Zuma's appointment of a state prosecutor to decide whether to reinstate corruption charges against him was not valid, while shares in Steinhoff plunged further. At 1546 GMT, the rand was up 0.66 percent to 13.6400 against the dollar and was on course for gains of around 0.75 percent against the dollar this week. The rand has tended to rally on events which weaken Zuma's position as president.
South Africa's rand fell more than one percent against the U.S. dollar on Thursday as the greenback rose, while stocks edged up slightly, despite another share plunge by Steinhoff International. At 1543 GMT, the rand was 1.11 percent weaker at 13.6725 per dollar, after earlier hitting a session low of 13.6900. South African investors are also wary ahead of the ruling African National Congress (ANC) leadership conference next week, where a successor to the current leader, President Jacob Zuma, will be crowned.
The South African rand weakened on Thursday, as appetite for emerging market currencies globally was subdued with investors avoiding big bets ahead of employment data in the United States, seen as an indicator ...