The domestic data calendar was rather light last week with electricity production for December 2018 the only notable release. In the absence of any significant data releases, attention was focused on the State of the Nation Address (SONA) and the read more

The domestic data calendar was rather light last week with electricity production for December 2018 the only notable release. In the absence of any significant data releases, attention was focused on the State of the Nation Address (SONA) and the announcements made regarding Eskom and the formation of a new investigating directorate. In the international section, we discuss the latest interest rate decisions from both the developed and developing world, as well as trade statistics out of the US.

Last week, financial headlines were dominated by a more dovish-than-expected monetary policy statement of the Federal Reserve (Fed) in the US. The dollar lost some ground against other key currencies, including the rand, after the statement lacked the usual read more

Last week, financial headlines were dominated by a more dovish-than-expected monetary policy statement of the Federal Reserve (Fed) in the US. The dollar lost some ground against other key currencies, including the rand, after the statement lacked the usual prediction of future rate hikes. Domestically, there were a number of data releases. Although the Absa Purchasing Managers’ Index (PMI) was slightly down in January, it was still virtually at the neutral-50 mark and above the average for last year. Besides the PMI, a welcome trade surplus was recorded in December, though it was not on the back of more exports. We also take a brief look at the latest vehicle sales, private credit extension and producer inflation numbers. In terms of the main global data releases, a slowdown in global growth was confirmed by lower GDP growth numbers in the Eurozone and a drop in the Chinese PMI.

Domestically, data released last week revealed that consumer confidence remained in positive territory in the final quarter of last year, though it was down from the Ramaphoria-high during the first half of 2018. The Q4 figure suggests that consumers’ read more

Domestically, data released last week revealed that consumer confidence remained in positive territory in the final quarter of last year, though it was down from the Ramaphoria-high during the first half of 2018. The Q4 figure suggests that consumers’ willingness to spend is still relatively high. Meanwhile, consumer inflation moderated significantly in December 2018 on the back of a huge drop in fuel prices. Internationally, both the European Central Bank (ECB) and the Bank of Japan (BoJ) held their key policy interest rates steady at current levels. Meanwhile, flash Purchasing Managers’ Index (PMI) numbers for January indicated a sustained slowdown in the Eurozone economy, while the US economy retained momentum. In financial markets, the US dollar was somewhat weaker as the trade talks between the US and China made little progress to date

Domestically, markets were focused on the latest meeting of the Monetary Policy Committee (MPC) of the SA Reserve Bank (SARB) last week. On the global front, the news flow was dominated by British political chaos associated with the Brexit debacle. Besides a read more

Domestically, markets were focused on the latest meeting of the Monetary Policy Committee (MPC) of the SA Reserve Bank (SARB) last week. On the global front, the news flow was dominated by British political chaos associated with the Brexit debacle. Besides a brief overview of the MPC decision, the domestic section looks at the latest retail sales data, which surprised on the upside. In contrast, mining data disappointed. The international section discusses a slew of data from China, the US and the Eurozone. The section also briefly refers to the outcome of the Brexit vote in the UK parliament.

Domestic data released during the first full week of 2019 presented a mixed bag. Manufacturing data, both survey and official statistics, suggest that the factory sector ended 2018 on a positive note. However, new vehicle sales data for December confirmed read more

Domestic data released during the first full week of 2019 presented a mixed bag. Manufacturing data, both survey and official statistics, suggest that the factory sector ended 2018 on a positive note. However, new vehicle sales data for December confirmed that overall sales declined in 2018 compared to 2017. International news headlines were mostly focused on political developments, including the continued government shutdown in the US, trade negotiations between the US and China, as well as Brexit developments (or the lack thereof). On the economic front, there are increasing concerns about the health of the global economy.