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Nedbank analysts say the rand has weakened about 8% against the dollar since February even as South Africa's sovereign CDS spread has compressed, an anomaly also seen in other emerging markets. They keep a 14.00-14.50 trading range and expect central bank decisions and Moody's review to drive the next move.
The currency view indicates limited near-term weakness, which means feed import costs in South Africa are unlikely to shift sharply from currency moves alone.
nedbank.co.zaMar 8, 2019Not 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.
