Global: Focus on Fed, Scotland’s vote and the ECB’s TLTRO Currencies: Rand under pressure and set for volatility SA: Anticipating a rate hike Local rates: Foreign selling keeps bond market under pressure Zambia: ZRA to first consult before revoking import certificates requirements Tanzania: Government to receive US$565m from the World Bank to expand its main port What to watch this week: • Mon: Nigeria CPI, Botswana CPI • Tue: UK CPI, Germany ZEW survey expectations, US PPI • Wed: SA CPI and retail sales, Eurozone CPI, US CPI and FOMC rate decision, Angola CPI, Ghana CPI • Thu: ECB TLTRO allotment, SA interest rate decision, US initial jobless claims and housing starts • Fri: Nigeria MPC, US leading index Global, currencies and commodities The rand starts what is going to be a very volatile week under pressure. USD/ZAR is at 11.05 and EUR/ZAR at 14.32. Immediate pressure comes from this morning’s week Chinese industrial production data, although this is really just a sideshow in front of the event risks of Wednesday and Thursday. EUR/USD, for now, remains a constraint on any major moves in the rand: its stability over the past few sessions has limited global FX volatility.
Posted on: Mon, 15 Sep 2014 06:48:49 +0000
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