Post by : Saif Nasser
The South African rand showed a small gain on Wednesday morning, as traders waited for important domestic economic data and the latest interest rate decision from the United States. By 07:54 GMT, the rand was trading at 17.02 per dollar, about 0.2% stronger than the previous day.
The slight rise comes ahead of South Africa’s October retail sales report, which will be released by Statistics South Africa later in the day. Retail sales are an important measure of how much consumers are spending, and they help show the overall health of the country’s economy.
Economists surveyed by Reuters expect retail sales to grow 2.3% year-on-year, following a 3.1% rise in September. Nedbank economists said the slower growth might be because many consumers waited for Black Friday discounts before making big purchases. They predict sales will rise by 2.5%.
On Tuesday, a consumer index by First National Bank showed that South Africans became more confident in the fourth quarter of 2025. As the holiday season approaches, people tend to spend more, which often boosts confidence levels.
However, the rand’s movement is also tied to global factors. Later on Wednesday, the U.S. Federal Reserve is expected to announce a 25 basis point interest rate cut. Many investors believe this cut is already priced into the market, but the bigger focus will be on what Fed Chairman Jerome Powell says about future policy. If his message is more aggressive or “hawkish,” markets could react strongly.
Analysts at ETM Analytics noted that the rand, like other risk-sensitive currencies, often reacts to U.S. monetary policy and global economic signals. They added that South Africa’s currency still has several supportive factors and should remain relatively stable for now.
On the stock market, the Johannesburg Stock Exchange’s Top-40 index traded flat early in the day. Meanwhile, South Africa’s 2035 government bond strengthened, with the yield dropping by 5.5 basis points to 8.43%, showing improved investor demand.
OpenAI Highlights Growing Cybersecurity Threats from Emerging AI Technologies
OpenAI has raised alarms about the increasing cyber risks from its upcoming AI models, emphasizing s
Manchester City Triumphs 2-1 Against Real Madrid, Alonso Faces Increased Scrutiny
Manchester City secured a 2-1 victory over Real Madrid, raising concerns for coach Xabi Alonso amid
Cristiano Ronaldo Leads Al Nassr to 4-2 Victory Over Al Wahda in Friendly Face-Off
Ronaldo's goal helped Al Nassr secure a 4-2 friendly win over Al Wahda, boosting anticipation for th
Landon Donovan Challenges Australia Coach on World Cup Prospects
Landon Donovan counters Australia coach Tony Popovic’s optimism for the World Cup, expecting an earl
Mercedes-Benz Forms Landmark Partnership with WTA
Mercedes-Benz and the WTA unveil a significant partnership effective January 2026, with major invest
Abhishek Addresses Divorce Rumours Concerning His Family
Abhishek Bachchan confirms that daughter Aaradhya remains oblivious to divorce speculations, focusin
