The ZAR Exchange Rate Thread

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FlashSA said:
Zuma can't fire Pravin
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oh I wouldn't be so sure.

Gordhan just threw down the gauntlet in a big way. And the Hawks letter says Zuma or his allies already tried to undermine Gordhan behind the scenes. Plus Gordhan has publicly declared he'll stand his ground. So this is heading straight for a big show-down (Gordhan + markets/business versus Zuma Inc)...and legally Zuma can get rid of Gordhan with a single command so "Zuma can't fire Pravin" is not a given.

Anyway...I'm grabbing the popcorn because this is going to result in fireworks.
 
HavocXphere said:
oh I wouldn't be so sure.

Gordhan just threw down the gauntlet in a big way. And the Hawks letter says Zuma or his allies already tried to undermine Gordhan behind the scenes. Plus Gordhan has publicly declared he'll stand his ground. So this is heading straight for a big show-down (Gordhan + markets/business versus Zuma Inc)...and legally Zuma can get rid of Gordhan with a single command so "Zuma can't fire Pravin" is not a given.

Anyway...I'm grabbing the popcorn because this is going to result in fireworks.
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With Gwede Mantashe's letter giving Pravin a full ANC backing, it appears they have learnt what financial damage it would cause.

I call it the Zuma gets recalled after local government elections. Bet they want to do it sooner but can't due to potential vote slip.
 
FlashSA said:
With Gwede Mantashe's letter giving Pravin a full ANC backing, it appears they have learnt what financial damage it would cause.
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Mantashe has no authority to give anyone "a full ANC backing", especially not after the formal head of the ANC just formally declared some else (random dude) the most qualified fin min ever. Oh and the finance minister (literally the most important ministry) just declared war on Zuma & said this sht is going to the constitutional court if necessary. But yeah...business as usual.

FlashSA said:
I call it the Zuma gets recalled after local government elections.
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Thats what you'd normally do yes. This prez has systematically undermined every government institution in sight though. In unrelated news, the chief IEC post is still vacant and vote just got postponed. But its cool...will be totally democratic.

Anyway...I'm holding my breath on the fin min situation above...that is going to get intense one way or the other...
 
Not sure if ABSA will affect the price now - possibly only when it is announced publicly? You think we would hit the R20 mark then?
 
krycor said:
Exactly.. but its not unexpected so don't think it will have much effect except perhaps the capital leaving Sa
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The 50 basis point hike was also expected, and that had quite the after-effect. I don't think the ABSA situation can be expected to be a non-event, even if it is well priced in.
 
:( more bad news for the markets

Source: http://www.iol.co.za/business/news/trade-balance-deficit-passes-r178bn-1991517
policymakers will be particularly disappointed that the country’s export revenues dropped as sharply as they did in January, especially in a weak rand environment, where exporters are expected to flourish
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and surely everyone is taking Gordhan's cost cutting mission very seriously ... :whistle:
Source: http://www.iol.co.za/news/politics/ethekwini-sending-40-councillors-on-cruise-1991540
The municipality is about to splurge about R160 000 sending a large delegation on a three-day cruise to Portuguese Island, Mozambique. The delegation will sail on the luxurious MSC Sinfonia at the weekend.

Forty councillors in the city’s economic development and planning committee – and an unconfirmed number of officials – have been invited on the “cruise conference”.
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next interest rate hike coming on 17 March I guess ...
 
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