File image: IOL

JOHANNESBURG - Yesterday was a mixed bag, the South African currency held out during yesterday’s session but slipped in late trade as the benchmark interest rate was kept unchanged in a unanimous decision according to NKC Research. 

The Sarb left the repo rate unchanged at 6.5 percent against a backdrop of an unchanged growth forecast for 2019. 

The local unit remains on a fragile footing as Moody’s rating action in November looms while the US Fed delivered a less-dovish-than-expected outlook to curb robust appetite for risk-sensitive currencies. 

At the close of local trade, the rand quoted 0.31 percent stronger at R14.67/$, after trading in a range of R14.61/$ - R14.74/$. 

The rand recovered some of its earlier losses during Asian trade this morning. Expected range today R14.65/$ - R14.95/$.



South African bourse

The JSE All Share (-0.09 percent) traded in the red yesterday, and losses were quite broad based. In the overall emerging market sphere, the MSCI Emerging Market Index (-0.47 percent) traded lower.

Brent crude oil

The Brent oil price waivered yesterday, as markets assessed potential supply risk in the aftermath of last weekend’s attack on Saudi oil facilities. At the close of local trade, benchmark Brent crude futures quoted 1.19 percent higher at $64.50pb. Crude prices traded on the front foot during Asian trade this morning.

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