Dollar steadies as calm descends on markets
The US dollar stabilised against its peers on 28 August, after a tumultuous week for global markets.
Markets, Greenback rebound after Black Monday
US stocks and the dollar have tracked back gains after a sharp dip on Black Monday (24 August) across global markets.
CD South Africa: Aim low, shoot high?
The upward revision of US second quarter gross domestic product (GDP) growth to 3.7% from the original 2.3% is being seen as much better than expected. However, it still does not suggest the US Fed will raise rates in September.
Dudley downplays US rate rises (video)
The US Federal Reserve appeared to make a dramatic U-turn last night, when Fed official Will Dudley claimed that a rate rise in September “seems less compelling” than it did a few weeks ago.
CD South Africa: Rand on track for recovery
Strong gains in both the US and China have eased nerves as global markets start to recover. With global sentiment on the up, the rand is back to more “normal” levels.
Broken China responds by cutting rates
The People’s Bank of China cut the main interest rate by 25 basis points yesterday (25 August), and also cut the reserve requirement ratio by 50 basis points.
CD South Africa: Economy is going nowhere slowly
A dismal second quarter gross domestic product figure released yesterday at -1.3% (yes, that is negative) does certainly not paint a pretty picture of South Africa's economy.