Michael Keenan may refer to: (wikipedia)
I think it was pretty neutral from a rand perspective but he did a paint pretty optimistic outlook for the rand.
We will remain stuck in a range ahead of a busy data week both locally and abroad. For the most part R6.06-6.14/$ is the preferred range.
We're targeting 6.20/dlr though that will be a tough level to break, but if it does it may target to 6.14/dlr.
A rise in global demand, the relatively low cost of capital and a weaker rand have all helped lift manufacturing.
If the gold price can sustain its latest surge then I think the rand will enjoy a bit of short-covering into the weekend. I would be targeting the mid-teens, around 6.13/dollar.
The weaker rand is causing some of the bulls to lock in profits. It could have been worse had it not been for the slightly better-than-expected inflation numbers and the fact that oil prices have started to drift lower.
The rand is still stuck in a range, but with a firmer bias. This has been a function of the renewed rise in precious metals prices. The rand is once again making use of its commodity status.
Next week is big. We've got a bit of data coming out on the local front, which will give an indication of where our inflation cycle peaked and as such more insight on the interest rate outlook.
Bonds are looking slightly overbought. Yields have come down a long way and its hard for them to push lower. We are seeing a bit of consolidation and wait for the Americans to return,
There's a lot of apprehension ahead of the (Reserve Bank's) MPC. Although it's widely expected interest rates will stay unchanged, guys will be looking to how at how the Reserve Bank is concerned about oil prices and consumer spending.
