Markets react positively to Ramaphosa's Cabinet - TreasuryONE 

"President Ramaphosa announced his new Cabinet yesterday and cut the number of cabinet portfolios from 36 to 28.  Tito Mboweni and Pravin Gordhan both kept their positions.

There did not appear to be any contentious appointments besides the reappointment of David Mabuza as Deputy President.

The markets have reacted positively and we have the rand trading at 14.6275 this morning after touching the R14.89/$ level at one stage yesterday. Elsewhere the dollar remains strong with the trade war continuing to dominate market movements.

Both the pound and euro are lower this morning at 1.2630 and 1.1137 respectively.

Stock markets across the globe are lower on trade tensions but we saw the JSE closed up 1.04% as it recovered from Monday’s bloodbath. Precious metal prices remain soft and we have Gold at $1 277.95 and Platinum at $1 341.10.

The China-US trade war is causing global growth concerns and pushing investors into bonds and the dollar which is why stock markets and Gold are struggling."

 - TreasuryONE

Gordhan, Mboweni retain positions in Ramaphosa's Cabinet

Pravin Gordhan has been reappointed as minister of public enterprises by President Cyril Ramaphosa, while Tito Mboweni has retained his position as minister of finance.

President Cyril Ramaphosa outlined the structure of the national executive from the Union Buildings in Tshwane on Wednesday evening.