Tag: U.S. Federal Reserve
Investors’ fear levels are particularly high right now, as the coronavirus pandemic turned a global health crisis into an economic one. And it is uncertain when the world will recover from either of these crises.
South Africa’s economy will contract sharply this year as activity is hit by the coronavirus outbreak, despite expectations the central bank will cut interest rates again in May, a Reuters poll found on Monday.
South Africa’s rand rose against the dollar on Tuesday, boosted by the promise of unlimited dollar funding from the U.S. Federal Reserve, which helped sentiment globally, even as an impending 21-day lockdown threatened the local economy.
Sterling slid below $1.19 on Wednesday to hit its lowest point since October 2016 as liquidity concerns sent the dollar surging and hammered currencies around the world.
Oil prices fell for the first time in six days after the U.S. Federal Reserve dampened hopes for a string of interest rate cuts. To review the half-year numbers of some listed oil companies, Temitope Jolaoso, Analyst at Financial Derivatives joins CNBC Africa for more.