It has been a very busy week in South Africa’s political Landscape:
The release of the Public Protectors report on State Capture as well as the Dropping of charges against Finance Minister Pravin Gordhan has led to rally in the Rand against international currencies the Euro, Pound and Dollar. The Rand is currently trading in the mid R 13’s to the Dollar, bellow R 17 to to the Pound and below R 15 to the Euro.
Interantionally, US growth came at a above expected 2.9% for the third quarter boosted by a larger than anticipated export numbers. This strengthens the case for a interest rate hike in December by the US Fed.
Markets across the globe are awaiting the result of the USA Presidnetial and Congressional elections on Tuesday, markets are jittery at the thought of Donald Trump Presidency.
In europe, the UK’s Gdp numbers were in the positive, though barely (o.5% growth), this has been largely attributed to the shock of the Brexit vote back in June.
Across the rest of Europe there is little news.
Andre Botha in conversation with eBizRadio’s Nick von Stein