Nedbank on brink of $7bn deal with HSBC, Old Mutual

Speculation about the future of South Africa’s Nedbank has ended following Old Mutual’s confirmation of talks with HSBS regarding a buy of up to 70% of the bank in a deal that could be worth as much as $7 billion.

Rand strengthened by foreign buying

Despite recent strikes by South African government workers seeking higher compensation and more generous housing allowances, the rand has remained firm thanks to an increase in foreign buying. The rand continues to track a slightly stronger Euro.

Strong Rand May be Stalled by Strike

After riding highs not experienced in two and a half years, the rand has begun its retreat against the US dollar, and the threat of potential violence among striking government employees – numbering as many as 1.3 million – could weigh heavily on the currency in the coming days. The week started off strong, with [...]

Is it time to sell the ZAR?

From mid-2010 the ZAR has rallied against a series of currencies reaching 30-month highs against the USD.  According to the Cape Business News and Deloitte, with increased tourism generated from the hosting of the World Cup this June, revenue per available room has seen a 120% increase compared to the same month last year and [...]

Positive trends for Pound, Euro

The British Pound is riding high on a nine day rally, quickly advancing toward a six-month high at 1.5967 during the overnight trade August 3rd. Meanwhile, the GBP/USD face a decline similar to that experienced earlier this year, with many market participants anticipating the normalizing of monetary policy by the Bank of England going into [...]

Getting To Know Basic Forex Strategy

When you want to learn about basic Forex strategy, you are going to find that there are all different levels to cover. From basic strategies all the way up to advanced, there is a whole lot of information to be taken into consideration as you take the plunge into Forex trading. However, it goes without [...]