CD South Africa: It’s Fed time… Again!

Currencies Direct October 28th 2015 - < 1 minute read

The rand could find some strength today as, once again, the US Federal Reserve takes center stage. The Fed statement and interest rate decision takes place at 20h00, with rand movement almost a certainty (the only question is in which direction!).

There will no doubt be an ease in market volatility ahead of the announcement, as many investors will wait to decipher the wording of the Fed’s statement before taking action. US durable goods and consumer confidence figures came in below expectations yesterday, hinting at the possibility that the Fed will hold off on an interest rate rises until 2016. Locally, SA unemployment came in below expectations yesterday at 25.5%, from a previous figure of 25%. Have a great day!

Commentary by Chris Williams

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Currencies Direct

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