The rand is up to its old tricks again…
The question Mike Schüssler probably gets asked the most as an economist is; “where will the rand be by Christmas or next year this time”.
The question Mike Schüssler probably gets asked the most as an economist is; “where will the rand be by Christmas or next year this time”.
It’s the little things that say so much as I discovered when attending the pre-MTBPS “lockup” in Parliament yesterday.
TreasuryONE’s currency expert Andre Cilliers is confident the rand can remain entrenched between 14.50 and 14.85 in the “very, very” near term.
Hard-hitting investment strategist Magnus Heystek gave his insight into Enoch Godongwana’s first budget speech as finance minister.
Heystek frets that the ANC’s vote-catching schemes like a Basic Income Grant and NHI are being justified against this peak (mining) revenue background.
“As commodity prices came under pressure around the Evergrande crisis, SA’s exchange rate tumbled from R14.14 to yesterday’s six week low of over R15.”
“Limited spending on new projects raises concerns about future supply shortages, particularly for metals used for lower-carbon products.”
Kumba, one of the few darlings of the JSE over the past five years, has reported a bumper set of numbers for its financial year-end.
Harmony expects with a reasonable certainty that net profit for H1FY21 will be between R5.7bn and R5.9bn, around 330% higher than H1FY20.
Glencore reinstated its dividend on the back of record trading profits as the world’s biggest commodity trader reports its results.