S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
The South African rand has traded around 16.5 per USD since April, amid a resilient US dollar and heightened volatility in key precious metals, particularly gold and PGMs. This has been largely attributed to the Middle East conflict, which has contributed to increased global uncertainty and reinforced safe-haven demand for the greenback. Meanwhile, progress in US–Iran negotiations triggered a sharp decline in oil prices, helping to ease inflationary pressures. While this improves South Africa’s inflation outlook, SARB Governor Lesetja Kganyago has warned that further rate hikes remain possible. He said that the US–Iran deal still leaves considerable uncertainty, noting that oil prices are unlikely to return to pre-conflict levels soon and that higher fertilizer costs could spill over into food prices during the harvest in the second half of the year. Attention now shifts to the upcoming release of Q2 inflation expectations to gauge the extent of inflationary pressures in the economy.
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