020 7898 0500Commodity price uncertainty and political unrest within the South Africa Government have driven the rand exchange rate to record lows against the US dollar, euro and sterling throughout 2015. The rand dropped sharply in value in early December, after three new Finance Ministers in five days. The final appointment of previous minister, Pravin Gordhan, saw the currency rally, in spite of persistent base metal price softness.
The first week of 2016 sees a host of Economic Data to be released, the most notable being the US Manufacturing Purchasing Managers’ Index (PMI) data on Monday, European Consumer Price Index (CPI) data on Tuesday, Federal Open Market Committee Meeting (FOMC) minutes on Wednesday, Australian Import/Export and Trade Balance numbers on Thursday, and the week will close out with US Unemployment and Non-Farm Payroll figures on Friday.
If you are looking to buy or sell currencies, contact your trader to see how rate changes in 2016 affect you; and to plan an appropriate currency strategy.
