South Africa going from junk to jewel
Finance Minister Enoch Godongwana will this week outline improvements in South Africa’s public finances that pave the way for a sovereign credit-rating outlook upgrade, a Bloomberg survey shows. See the full article on DailyInvestor.com here>
Rand on shaky ground
The rand is “treading water” around R16 to the dollar at the moment, as global uncertainty has markets in a ‘wait-and-see’ mode, and tensions in the Middle East push traders into gold. Read the latest from Businesstech here>
South African markets react to Trump’s economic decisions
Despite the decision by US President Trump to “invade” Iran by deploying “massive armada” to the region, that have left for Iran closing the Strait of Hormuz, building up geopolitical tensions in the Middle East, South African financial markets gained on these uncertainties. Read the full report in IOL Business here>
Warning over the end of medical aid tax credits in South Africa
As many as 690,000 medical aid members are at risk of being pushed out of their cover if the government keeps medical aid tax credits flat for another year—or worse, makes good on threats to cut the relief entirely. Read the full Businesstech article here>
Financial indicators by Sharedata.co.za
Wall Street futures and dollar fall on Trump tariff tumult
Wall Street futures and the dollar dropped on Monday as confusion over U.S. trade policy revived the “sell America” trade, after President Donald Trump imposed a new 15% tariff following the Supreme Court’s ruling against his global levies. See the full Reuters article here>
Tariff-ruling uncertainty pushes gold to three-week high
Gold prices climbed to a more than three-week high on Monday as uncertainty stoked by the US Supreme Court’s decision to strike down a vast swathe of President Donald Trump’s tariffs pressured the dollar and pushed investors to the safety of bullion. See the BusinessDay article here>
Oil pulls back as U.S.–Iran talks set to resume: Here’s where negotiations stand
Oil retreated from a six-month high on Monday after Oman announced that a third round of talks between Washington and Tehran will continue this week in Geneva. Read the full CNBC article here>