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Markets WRAP: Rand closes at R14.66/$

2019-05-30 08:32

The local unit ended the day at R14.66/$, having opened at R14.64.


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Last Updated at 09:55
30 May 17:16

Rand closes at R14.66/$

The local unit started the day at R14.64/$ and ended the day at R14.66/$. The day's range was between R14.5737 and R14.7097.

Closing indicators from TreasuryONE:

USDZAR    14.6651

EURUSD    1.1133

EURZAR    16.3185

GBPUSD    1.2604

GBPZAR    18.4747

AUDZAR    10.1256

CADZAR    10.8520

CNYZAR    2.1230

ZARJPY    7.4798

CHFZAR    14.5429

R186    8.49%

US 10 Year    2.26%

JSE    1.39%

FTSE    0.67%

S&P 500    0.22%

30 May 08:34

Markets react positively to Ramaphosa's Cabinet - TreasuryONE 

"President Ramaphosa announced his new Cabinet yesterday and cut the number of cabinet portfolios from 36 to 28.  Tito Mboweni and Pravin Gordhan both kept their positions.

There did not appear to be any contentious appointments besides the reappointment of David Mabuza as Deputy President.

The markets have reacted positively and we have the rand trading at 14.6275 this morning after touching the R14.89/$ level at one stage yesterday. Elsewhere the dollar remains strong with the trade war continuing to dominate market movements.

Both the pound and euro are lower this morning at 1.2630 and 1.1137 respectively.

Stock markets across the globe are lower on trade tensions but we saw the JSE closed up 1.04% as it recovered from Monday’s bloodbath. Precious metal prices remain soft and we have Gold at $1 277.95 and Platinum at $1 341.10.

The China-US trade war is causing global growth concerns and pushing investors into bonds and the dollar which is why stock markets and Gold are struggling."

 - TreasuryONE

30 May 08:33

Gordhan, Mboweni retain positions in Ramaphosa's Cabinet

Pravin Gordhan has been reappointed as minister of public enterprises by President Cyril Ramaphosa, while Tito Mboweni has retained his position as minister of finance.

President Cyril Ramaphosa outlined the structure of the national executive from the Union Buildings in Tshwane on Wednesday evening.

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