Moody’s is indicatively scheduled to review the Baa3 rating and stable outlook it assigns South Africa later on Friday.
JOHANNESBURG - The rand edged firmer early on Friday, lifted by a spell of risk demand after economic growth in the United States slowed, but the currency remained poised for a drop with Moody’s expected to cut the country’s ratings outlook to negative.
US gross domestic product increased at a 2.2% annualised rate, down from the initial estimate of 2.6%.The electricity crisis that saw state utility Eskom this month impose nationwide rolling blackouts, and an overall meek recovery in economic growth, has however raised the risk of a full downgrade.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick Friday Cartoon: Good Moody, Bad Moody
Read more »
Rand weakens to R14.50/$ amid Turkish lira roller-coasterLocal focus remains squarely on Thursday’s interest-rate decision and Moody’s credit-ratings announcement on Friday
Read more »
Rand stumbles on SA Reserve Bank interest rate announcementThe bank decided to leave rates unchanged, which surprised no one.
Read more »
Gone with the wind farm: why Bosasa ‘kept Mokonyane close’Agrizzi says the company kept greasing minister's palm because of a ‘multibillion-rand’ Eastern Cape development
Read more »
#RandReport: Rand slides alongside EM currencies, stocks steadyAt 1548 GMT, the rand was 0.27% weaker at 14.6450 to a dollar.
Read more »
Rand weakens as Turkish lira slumps 5%Pressure on emerging markets comes from wild swings in the Turkish lira, while global bond yields are also in focus
Read more »
Rand retains overnight gains amid Brexit dramaThe rand gained 1.3% overnight, but is trading slightly weaker on Tuesday market, as investors eye Brexit developments
Read more »
Rand at six-week low to the dollar as risk escalatesEmerging-market currencies are under pressure from volatility in the Turkish lira, while global markets are also eyeing Brexit developments
Read more »
Rand volatility picks up ahead of Moody’s decisionCurrency traders braced for more volatility in the rand, which slumped on Friday by the most in five months, ahead of the Reserve Bank's latest interest rate decision and Moody's Investors Service's credit-rating review. The rand will have the second-biggest swings after Brazil's real among major currencies this week, with it's one-week implied volatility against the dollar rising to the most since February.
Read more »
Rand weakens ahead of Reserve Bank decisionUncertainty persists over Brexit, while global concerns over recession continue to dent sentiment
Read more »