Brexit uncertainty continues, while investors waiting for an update on the US-China trade talks
08 April 2019 - 10:16
byKarl Gernetzky
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The rand was slightly softer on Monday morning, as global markets waited for fresh catalysts.
At 9.45am the rand was 0.49% weaker at R14.161/$, 0.52% down at R15.8929/€ and 0.65% softer at R18.4964/£. The euro was flat at $1.1223.
The benchmark R186 government bond was bid at 8.51% from 8.49%.
All eyes are on a European council summit on Wednesday, where officials will consider a request from the UK to extend the Brexit deadline.
UK Prime Minister Theresa May has been courting opposition counterpart Jeremy Corbyn in a bid to get a deal, saying on Sunday that “the choice that lies ahead of us is either leaving the EU with a deal, or not leaving at all”, reported Dow Jones Newswires.
Continuing ChinaSino-US trade talks are also being watched, amid signs the two sides are making progress.
Some focus is also on local politics, which are expected to gain in importance as the May 8 election date moves closer.
Correction: April 8 2019
An earlier version of this article stated that President Cyril Ramaphosa was seeking to appoint a new NPA head this afternoon, this is not correct. Business Day regrets the error.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Rand a little weaker as market eyes risk events
Brexit uncertainty continues, while investors waiting for an update on the US-China trade talks
The rand was slightly softer on Monday morning, as global markets waited for fresh catalysts.
At 9.45am the rand was 0.49% weaker at R14.161/$, 0.52% down at R15.8929/€ and 0.65% softer at R18.4964/£. The euro was flat at $1.1223.
The benchmark R186 government bond was bid at 8.51% from 8.49%.
All eyes are on a European council summit on Wednesday, where officials will consider a request from the UK to extend the Brexit deadline.
UK Prime Minister Theresa May has been courting opposition counterpart Jeremy Corbyn in a bid to get a deal, saying on Sunday that “the choice that lies ahead of us is either leaving the EU with a deal, or not leaving at all”, reported Dow Jones Newswires.
Continuing ChinaSino-US trade talks are also being watched, amid signs the two sides are making progress.
Some focus is also on local politics, which are expected to gain in importance as the May 8 election date moves closer.
Correction: April 8 2019
An earlier version of this article stated that President Cyril Ramaphosa was seeking to appoint a new NPA head this afternoon, this is not correct. Business Day regrets the error.
gernetzkyk@businesslive.co.za
Market data - April 7 2019
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