CD South Africa: Uncertainty around the globe
Currencies Direct July 28th 2015 - < 1 minute read
The rand remains on the back foot as the slump in Chinese equities intensifies. Chinese stocks fell 8.5% yesterday (27 July) as its manufacturing and production industries remain under pressure.
Positive US durable goods figures saw the rand weaken against the dollar and kept the US on track to raise interest rates in September. There is a possibility that weak global growth markets could see US Federal Reserve Chair Janet Yellen put a hold on interest rate increases, but only time will tell.
Today sees the release of SA unemployment figures (11:30am SA time) and US consumer confidence figures (16:00pm). Have great day!
Commentary by Chris Williams
Written by
Currencies Direct