The rand was slightly firmer in early morning trade on Wednesday as the dollar battled to hold on to its stronger levels against the euro. The rand normally trades inversely to the dollar. Commodity prices were flat.
Most of the economies in the European Union’s eastern wing probably slowed in the second quarter, with only Slovakia accelerating even as consumer spending and resurgent investment keeps the region on track to outpacing the richer West this year.
Kristina Hooper, global market strategist at Invesco, and Bloomberg Intelligence’s Yelena Shulyatyeva discuss the Fed’s plan for shrinking its balance sheet and what it could mean for markets. They speak on ‘Bloomberg Daybreak: Asia.’ (Source: Bloomberg)
JOHANNESBURG – The South African rand firmed on Thursday, recovering ground following a slide to a one-month low after President Jacob Zuma survived a no-confidence vote, as traders bought at current levels in anticipation of a further retreat.
SAN FRANCISCO – A Silicon Valley culture war pitting liberal-leaning tech firms against a small conservative cohort took on new intensity on Tuesday after Google fired a male engineer for a memo that decried the company’s commitment to hiring women.
Safaricom Ltd of Kenya plans to introduce an e-commerce platform within eight months targeting formal retail and informal online trading in East Africa’s biggest economy, directors at the company said.
Europe’s common currency edged higher and the dollar fell back in a lackluster trading session on Tuesday. European stocks erased a drop to trade sideways, while gold climbed with oil and bonds mostly rose.