Michael Keenan

Kenya Stocks, Shilling Rally on Violence-Free Vote Hopes

Kenya’s currency is trading at its highest level in 10 weeks and stocks are rallying as investors bet the East African nation will avoid a repeat of the prolonged violence that followed 2007 elections in today’s vote.

Zambian Kwacha Falls to 3 1/2-Year Low on Importer Dollar Buying

Zambia’s kwacha declined to a 3 1/2- year low against the dollar as companies bought foreign currency to pay for imports.

Rand Best Performer as PPI Beats Expectations; Yields Fall

The rand led gains for major currencies after South African producer inflation data beat economists’ estimates and the nation’s monthly trade deficit narrowed. Bond yields fell the most in three weeks.

Rand Slides, Paring Weekly Gain, on U.S. Jobs Data; Yields at Record Low

The rand declined for a second day versus the dollar, paring its biggest weekly gain in six, after a report showed U.S. employment stagnated in August, fueling concern the world’s biggest economy is slowing. Bonds gained.

Rand Rallies, Paring Worst Weekly Decline in Four, After U.S. Jobs Data

The rand advanced versus the dollar, paring its worst weekly decline in four, after better-than- expected U.S. employment data eased concern the world’s biggest economy is sliding into a recession.

Rand May Extend Fall After Technical Resistance Breach, Standard Bank Says

The rand may extend its loss of more than 4 percent against the dollar since the start of April after South Africa’s currency breached a key resistance level, according to Standard Bank Group Ltd.

Rand Depreciates as Oil Falls From 29-Month High, Speculation Bets Reverse

The rand depreciated for the second day against the dollar as oil fell from a 29-month high on speculation investors reversed bets oil prices would rise and the dollar would weaken.

Rand Falls to Two-Year Low Versus Yen as Japan Closures Dims Metal Outlook

The rand slumped to its lowest in almost two years against the yen as factory closures in Japan damped the outlook for South Africa’s metal exports.

South Africa to Delay Interest-Rate Increase to 2012, Standard Bank Says

South Africa’s central bank will probably delay raising interest rates until the third quarter of next year as the global recovery weakens, curbing growth prospects in the country, Standard Bank Group Ltd. said.

Rand Snaps Two-Day Advance as European Debt Concern Hurts Emerging Markets

The rand weakened for the first day in three as speculation European leaders will struggle to agree on debt-crisis measures curbed investor appetite for risk and South African January manufacturing figures missed estimates.

"The currency has weakened considerably, and at these levels you would expect to see some short-covering."

- Michael Keenan on Jan 31, 2013

South Africa

Africa

Reserve Bank

‘Iron Man 3’ Tops Movie Sales Again With $72.5 Million

Gates Backs Obama Administration Handling of Benghazi

Sharif Claims Pakistan Win as Khan Sees Stronger Democracy

Yum’s 29% Sales Collapse in China Goes Beyond Avian Flu

Woods Among Three in Players Golf Lead After Tiff With Garcia