Rand firms 

The rand strengthened to below R14/$ on Thursday morning, its best level against the greenback since late April. 

The local currency opened the day's trade at R14.05/$ and was trading at R13.95/$ at 10:05, up 0.7% on the day.

Andre Botha, a senior dealer at TreasuryONE, said in a morning note to clients that the rand's strength could be linked to talk about rates in the US and the EU. 

"One reason for the rand and emerging market performance this morning could be the growing speculation that the Fed and European Central Bank will cut rates sooner rather than later. This could see yield-seeking behaviour being in the order of the day."

Botha said that due to the US celebrating the 4th of July public holiday, major currency moves were unlikely. 

On Wednesday US President Donald Trump had tweeted that Europe and China were playing a “big currency manipulation game”.  Botha noted the rand seemed to be defying the rhetoric for now, which would "normally equate to some uncertainty in the markets". 

Oil falls as smaller US stockpile drop adds to economic woes

Heesu Lee, Bloomberg

Oil declined as a smaller-than-expected draw in US crude and gasoline inventories added bearish sentiment to a market already reeling from a gloomy economic outlook.

Futures fell as much as 1.2% in New York after gaining 1.9% on Wednesday. While American crude and gasoline stockpiles both fell for a third week, they dropped less than forecast in a Bloomberg survey.

Anxieties over demand resurfaced earlier this week after a slew of sluggish economic indicators from the US, China and Europe, even as the Organization of Petroleum Exporting Countries and its allies agreed to extend output cuts into 2020.

Asian stocks muted, US futures mark time

Cormac Mullen, Bloomberg

US and European stock futures were little changed after a muted session in Asia, where benchmarks notched modest gains in trading thinned by Thursday’s US holiday.

The dollar was little changed even after President Donald Trump delivered a broadside against Europe and China over alleged currency manipulation. Treasuries aren’t trading thanks to Independence Day.

Stocks gained in Tokyo, Sydney and Seoul, fell in Shanghai and were little changed in Hong Kong.

On Wall Street Wednesday, the Dow Jones Industrial Average hit an all-time high, after lagging behind the S&P 500’s recent records. Trading volumes were well below average in Asia, as investors await Friday’s key US jobs report.

Be 'prepared for anything’ as Trump slams Europe, China on currencies

US President Donald Trump’s latest accusation of currency manipulation has foreign-exchange analysts game-planning the administration’s next move.

Trump tweeted Wednesday that Europe and China are playing a “big currency manipulation game,” days after he declared a tariff ceasefire with Chinese leader Xi Jinping. For market observers, the president seemed to suggest going beyond mere jawboning.

Nico Bezuidenhout will return to Mango Airlines as permanent CEO

Mango's board has appointed Nico Bezuidenhout as permanent CEO with effect from October 1, 2019. Bezuidenhout was the founding CEO of Mango Airlines.

According to a statement from the low-cost airline, which is a subsidiary of national carrier SAA, the appointment of a permanent CEO is a step towards "stabilising leadership" and "strengthening executive capacity" of the airline.