[CURRENCY] At 12:00, the rand traded at R18.21 against the dollar, ahead of the release of retail sales figures later in the day that will give an insight into consumer demand in Africa’s most industrialised economy. Moneyweb Currency
The rand was stable in early trade on Wednesday, ahead of the release of retail sales figures later in the day that will give an insight into consumer demand in Africa’s most industrialised economy. Statistics South Africa will publish January retail sales numbers at 1100 GMT. Analysts polled by Reuters are predicting a 2.0% contraction in annual terms in January, after a 0.
6% decline in December. South Africa’s economic growth outlook is bleak this year, with crippling power cuts seen hurting businesses of all sizes and keeping inflation high. On Tuesday, Stats SA data showed mining output contracted 1.9% in January, while manufacturing fell 3.7%. The country’s benchmark 2030 government bond slipped in early deals, with the yield up 2.5 basis points at 10.040%.
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.
Traders bet on no more Fed hikes amid US banking crisis, rand strengthens | BusinessInvestors poured money into the safest assets, snapping up government bonds and gold, and unloaded bank shares as the collapse of Silicon Valley Bank reverberated across trading desks. | News24_Business
Read more »
Rand makes comeback as markets trim Fed hike forecasts | BusinessThe dollar languished near a multi-week low on Tuesday as fears of a broader systemic crisis following the collapse of a U.S. tech-focused lender left traders speculating that the Federal Reserve could pause its aggressive rate-hiking cycle.
Read more »
Motorcyclist killed, girl (10) injured in North Rand Road crash | Boksburg AdvertiserA man riding a motorcycle died, and his 10-year-old passenger was critically injured, after a collision with a bakkie on North Rand Road yesterday morning, March 12.
Read more »
SA's water crisis | Rand Water can't meet Gauteng demandWater and Sanitation Minister Senzo Mchunu made the shocking revelation while meeting mayors in the province.
Read more »
Rand Water to invest R28bn on 12 reservoirs to ensure water services for Gauteng | News24Rand Water is planning to build 12 reservoirs at a cost of R28 billion in the next five years to make sure Gauteng has enough water for its residents in 2028. | IamAlexSweet
Read more »