The rand remained relatively stable this week, trading around R16.19 to the US dollar as softer US inflation helped support market sentiment.
Attention now turns to South Africa’s July inflation figures, due from Stats SA on Wednesday, 19 August.
Economists expect inflation to ease from June’s 5% reading, with forecasts ranging between 4.3% and 4.8%, helped by a significant petrol price reduction at the end of July.
The JSE, meanwhile, ended the week lower, with both the All Share and Top 40 indices down close to 3% from the start of the week.
Key Finance Stories
Berkshire boosts Alphabet stake: Warren Buffett’s Berkshire Hathaway increased its Alphabet holding by 83% in the second quarter, making the Google parent its third-largest stock investment.
Traxtion eyes rail opportunity: South African rail operator Traxtion is positioning itself to benefit from rail reforms and growing demand linked to the continent’s mineral boom.
Stock pickers struggle: Only 13% of US large-cap funds have outperformed their benchmarks over the past decade, highlighting the challenge of consistently beating the market.
Jane Street takes major hit: Trading firm Jane Street reportedly recorded a $15 billion loss in July, ending more than a decade without a monthly loss.
SA workers face burnout: Rising living costs, job insecurity and workplace pressure are adding to financial strain and burnout among South African workers.
With inflation data due next week, investors will be watching closely for signs of how much room the Reserve Bank may have to support the economy.
Main Image: Moneyweb
