26 Jul 2018

Week Ahead: A packed week of local data releases

Annabel Bishop

Chief Economist

Will provide insight into the pace of domestic activity

Figure 1: SA Monetary Policy Committee (MPC) meeting dates for 2018

Currency outlook for the week ahead and foreign portfolio flows:

Figure 2: Purchasing price parity value of the rand

The domestic currency gained some momentum earlier this week, buoyed by positive news from President Ramaphosa that China has committed $14.7bn worth of funds for investment in South Africa. The rand maintained this appreciated stance as the week progressed on the back of a weaker greenback, and has been one of the best performers among a basket of 24 emerging market currencies over the past five days.

 

In the week ahead, the rand is expected to trade in a range of R12.90 /USD – R13.50/USD, R15.10/EUR - R15.70/EUR and R17.05/GBP - R17.65/GBP.

Figure 3: Purchasing price parity value of the rand

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