Four stocks rescued Wall Street last year; we might not be so lucky in 2016
Had it not been for a small group of nifty companies, 2015 would have entered the history books as a terrible year for the US stock market.
Had it not been for a small group of nifty companies, 2015 would have entered the history books as a terrible year for the US stock market.
Oil traded below $35 a barrel and headed for a third weekly decline amid a worsening US supply glut.
With the US Federal Reserve likely to begin its rate tightening cycle on 16th December, this is going to place even more pressure on the Rand, says Dwaine van Vuuren.
The Rand was a touch firmer against the dollar on Monday despite last Friday’s credit rating downgrade from Fitch, suggesting the market had largely priced in the move.
Commodity currencies including the Australian dollar, South Africa’s rand and the Brazilian real are surging as traders focus on the potential for a gradual cycle of US interest-rate hikes.
Given the muted market reaction to a potential US interest rate hike, Brian Kantor is calling on the SA Reserve Bank to do as the markets have, remain composed.
On current projections, Dwaine van Vuuren says the Rand could hit 18.50 against the US dollar by the end of Zuma’s second term in 2018. The worst rout a president has experienced since PW Botha in 1984.
Gold is starting to shed its reputation as a dead asset, and bulls can thank signs the US economy is starting to sputter for the boost.
Mercantile Bank says the weakening Rand will mean that South African entrepreneurs cannot afford to be reckless with finances.
Those who believe the cure for a low gold price is a low gold price be giving attention to the sharp decline in US production stemming from bullion’s slide.