Photo: File
Photo: File

Rand in holding pattern, remains range bound

Time of article published Oct 14, 2020

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JOHANNESBURG - Get the latest market update and top stories from our newsrooms across South Africa, Africa and the world.

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Question marks around a Covid-19 vaccine and US stimulus remain, as both seem to be stalling according to Bianca Botes, Executive Director at Peregrine Treasury Solutions.

Locally, the MTBPS has been postponed to 28 October, as Treasury awaits final details on matters such as the economic recovery plan.

Mboweni was due to deliver the budget speech on Wednesday, but decisions taken by the Cabinet have forced him to ask for a postponement.

President Cyril Ramaphosa is due to table the economic recovery plan in Parliament on Thursday.

EU industrial production is due today, followed by local retail sales and US PPI.

The local unit remains range bound, trading between R16.40 and R16.58/$.

We start the day at R16.45/$, R19.32/€ and R21.28/£.

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