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Rand Gives Away Gains Alongside Precious Metals, Eskom Briefing Ends

ZAR

Spot USD/ZAR is back to positive territory and last sits at amid gains for the BBDXY index. The rate last sits at ZAR17.0506, up 66 pips on the session, with Eskom's media briefing now in rearview mirror.

  • Eskom confirmed plans to revert to Stage 4 load-shedding tomorrow morning, if all is well. It will soon provide a further update on load-shedding plans but aims at reducing power outages over the weekend.
  • Local-currency bond yields remain subdued, last 6.9-9.1bp lower, with the curve running steeper. 10-year breakeven inflation rate hovers just above 17-month lows printed earlier today.
  • The precious metals index has wiped out virtually all of its earlier gains amid headwinds for the broader commodity space.
  • The FTSE/JSE Africa All Share Index is barely changed on the day, sitting in the vicinity of recent all-time highs.

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