Loading…
The rand hit a one-year intraday high on Thursday, pushing USD/ZAR below 17.7 before giving back some gains. Commerzbank said better-than-expected July producer prices, which fell to 4.2% annualized, support possible SARB rate cuts as early as September.
Disinflation and reduced power cuts are lowering South Africa's risk premium, supporting the rand and cheaper dollar-priced imports for feed buyers.
octaafrica.netAug 30, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
