Factory managers in South Africa are the most pessimistic they’ve been about the outlook for business conditions since the strictest months of a Covid-19 lockdown three years ago, amid continuing power cuts and congestion at the nation’s ports. An index tracking expected business conditions in six months time fell to 41 in November, signaling that … Read More “SA factory manager outlook worst since Covid lockdown” »
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African governments are scrambling for dollars, and that’s creating a new dividing line for investors. Amid a deepening shortage of hard currency on the continent, governments are turning to bartering, currency devaluations, central bank exchange controls, and help from the International Monetary Fund and Middle East to shore up their balance sheets. ADVERTISEMENT CONTINUE READING … Read More “Dollar scarcity is pushing more African countries to crisis” »
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November has been good to South Africa’s rand for the past five years. This time is different. South Africa’s currency is on track for a 0.3% decline against the dollar this month, one of only four emerging-market peers to weaken. MSCI’s developing nation currency index is set for a 2.9% November gain. ADVERTISEMENT CONTINUE READING … Read More “Rand falls victim to SA’s ‘noise’ in dismal November” »
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The dollar extended its losing streak and Treasuries steadied after a rally on further bets the Federal Reserve is almost done with its rate-hiking cycle. The greenback fell for a fourth day and is headed for its worst month since last November as traders turned more optimistic about the likelihood of Fed rate cuts. The … Read More “Dollar set for worst month in a year, yields hold: Markets wrap” »
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Shares in Asia struggled for traction on Thursday after US stocks ticked higher and Treasuries fell on data showing US consumers expect inflation to persist. Equities slid in Australia, while those in Hong Kong and China fluctuated and South Korean shares gave up earlier gains. Japanese markets are closed for a holiday. ADVERTISEMENT CONTINUE READING … Read More “Stocks in Asia rangebound as treasuries decline: Markets wrap” »
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