The rand was marginally weaker on Wednesday morning, with few major catalysts to give the market direction.
Much focus is on the UK, where MPS will receive an update on Prime Minister Theresa May’s progress in Brexit negotiations. There may be votes on alternative approaches or amendments, but a vote on whether or not to reject her deal in its entirety is not expected to take place.US Federal Reserve chair Jerome Powell’s testimony before Congress continues on Wednesday, but Powell has failed to deliver any significant surprises.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand weakens slightly ahead of budget speechTrading is expected to be conservative as the market waits for details on SA's fiscal consolidation
Source: BDliveSA - 🏆 12. / 63 Read more »
Rand weakens on fears of a weak #Budget2019 | IOL Business Report‘Minister needs to tread the line very carefully, especially when discussing the state of SOEs in the country and how to salvage them.’
Source: IOL - 🏆 46. / 51 Read more »
DAYS OF ZONDO: The impact of Nenegate: No, You can’t simply pick up a plunging randThe removal of former finance minister, Nhanhla Nene, and the appointment of ANC backbencher, Des van Rooyen, burdened South Africa with billions of rand more in debt costs as the markets responded against the controversial politically-motivated event.
Source: dailymaverick - 🏆 3. / 84 Read more »
Rand on the backfoot after lukewarm budgetThe rand initially swung weaker as Finance Minister Tito Mboweni revealed R69 billion ($4.92 billion) support for Eskom, but regained some ground as traders saw a smaller chance of a rating cut to 'junk' by Moody’s.
Source: ewnupdates - 🏆 30. / 53 Read more »
Rand strengthens after dropping to a seven-week low - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.%The rand has regained some ground after dropping to a seven-week low against the greenback as traders wagered that Wednesday's budget speech would sway ratings agency Moody's from downgrading the country's debt to junk status next month.% Are they no longer manipulating it. Tell us when to start taking this loose rand seriously
Source: SABC News Online - 🏆 32. / 51 Read more »