Business News Today
Southern African Currencies Strengthen
The South African rand appreciated to around 17.1 per USD, reaching its best exchange level against the US dollar since January 2023 this morning. The improvement was undermined by rising prices of key precious metals, particularly gold, platinum and palladium. In addition, the country’s removal from FATF’s Illegal-money transaction watch list, provided a boost to institutional credibility, enhancing global confidence and potentially attracting vital foreign investment. The risk-sensitive currency was further buoyed by expectations of a 25 bps US federal rate cut, which could widen yield differentials and attract foreign investors to higher-yielding South African assets and interest bearing investments.
Optimism over the outcome of today’s meeting between President Trump and Chinese President Xi Jinping also lent support. The currency has subsequently moved slightly lower and is trading around R17.16 to the US dollar. The Botswana Pula has also seen an improvement of over 1,12% against the US dollar this morning.
US -China Talks Yield a Positive Market Response
US stock futures have climbed this morning after President Donald Trump met with Chinese President Xi Jinping in South Korea. Trump said the US and China will maintain a strong relationship for a long time, while Xi called on both nations to stay on the right path to ensure stability. Meanwhile, investors digested mixed earnings from Big Tech, with Alphabet earning jumping almost 7% in extended trading on stronger-than-expected results. In contrast, Meta shares saw a slump of over 7% after reporting a $15.93 billion one-time charge linked to President Trump’s One Big Beautiful Bill Act, while Microsoft shares fell more than 4% after saying its OpenAI investment reduced quarterly earnings by $3.1 billion. Investors now await results from Apple and Amazon expected later today. Elsewhere, the Fed delivered a widely expected quarter-point rate cut yesterday, though Chair Powell signalled uncertainty about another move in December.
G7 Launches new Critical Minerals Alliance to Counter China
The Group of Seven (G7) nations, that comprises of Canada, France, Germany Italy, Japan the UK and the US, are set to announce a critical minerals production alliance aimed at countering China’s dominance in the sector. This was according to a report from Bloomberg News. The partnership is to be unveiled at the energy ministers’ meeting in Toronto tomorrow, and builds on the action plan agreed at the G-7 leaders’ summit in June. According to an official, the alliance seeks to address what the G-7 views as China’s market manipulation, including flooding supply to undercut Western projects and imposing export controls. Key features include offtake agreements, where buyers commit to a fixed percentage of mine output at set prices, alongside price floors and stockpiling arrangements. The pact will span various critical minerals and firms across G-7 countries, with Canada expecting economic gains due to its abundant mineral reserves.
Breaking News Shorts:
- Major Tech group earnings reports from Meta, Alphabet and Microsoft on Wednesday reaffirmed the massive capital outlays in chasing rapid AI and infrastructure developments, despite concerns over returns on the investments.Meta said its capital expenditures for 2025 will be between $70bn and $72bn, up from an earlier estimate of between $66bn and $72bn.
- Thailand’s industrial production grew by 1.02% year-on-year in September 2025, beating market forecasts of a 2.0% decline and rebounding from a 4.19% drop in the previous month. In April, the Industry Ministry lowered its 2025 industrial growth forecast to a range of 0%–1%, down from an earlier projection of 1.5%–2.5%,
- The Shanghai Composite and Shenzhen Component indexes traded in a flatline this morning, with mainland stocks lacking clear direction as investors awaited signals from the recently concluded meeting between President Xi Jinping and US President Donald Trump,
- Japan’s 10-year government bond yield rose 2 basis points to 1.66% today, after the Bank of Japan kept its policy rate unchanged at 0.5%, as widely expected. The decision was passed by a 7-2 vote, with board members Naoki Tamura and Hajime Takata again advocating a hike to 0.75%, repeating their stance from September.
Markets by Numbers
Currency markets indicate the US dollar fairly flat today, with the Euro trading against the US dollar at 1.16266 while the Pound is trading at 1.32017 to the US dollar. The Yen is currently trading at 152.94 to the dollar. The rand (ZAR) is currently at R17.16 to the US dollar.
Commodities:
- Gold futures prices are currently trading around $3958.00 per ounce.
- Copper prices have seen a drop this morning, with prices currently around $5.1472
- Silver futures prices are trending higher today, and currently trading around $47.709
- Platinum futures are flat this morning, and currently trading at $1583.00, While Palladium prices are trending upwards today, and are currently trading around $1419.00 per ounce.
- Brent crude oil prices are softer today, and currently at $64.57 with WTI trading lower at $60.11
- Cocoa futures have gained some traction this morning, and currently trading around $6050.00 per ton.
- Coffee futures have risen slightly today, and are currently trading at around $3.9204 per pound
Crypto Currencies:
- Bitcoin prices have seen prices trending marginally higher today, and currently trading at around $110152 per coin
- Ether prices have gained some traction today, and are currently trading around $3915.00
- $Trumpcoin is trending upwards today, and currently trading around $8.227
(All prices quoted at approximately 08H00 Central African Time)
Africa News Briefs:
- Sudans notorious Rapid Support Forces (RSF) militia, have reportedly killed hundreds of civilians at the main hospital in el-Fasher, days after it captured city, according to the head of the UN’s health agency Tedros Adhanom Ghebreyesus. He said said the UN health agency was “appalled and deeply shocked” by the reported killing of 460 people at the hospital. Earlier, the Sudan Doctors’ Network commented that on Tuesday RSF fighters had “cold bloodedly” killed everyone they found inside the Saudi Hospital, including patients, their companions, and anyone else present”.
- Democracy continues to be a dream in Tanzania, where authorities have now imposed a curfew in the major city of Dar es Salaam, following violent clashes between the police and protesters on election day. The government has also restricted internet and social media usage. The election poll is pretty much a sham and expected to be a shoo-in for President Samia Suluhu and her ruling party. This follows the incarceration of the main opposition leader on treason charges, which he denies, and with the opposition having boycotted the vote.
- Cameroon’s opposition leader has vowed to resist until the “final victory” over President Paul Biya, calling on his supporters to stay mobilised as a civil society group denounced deaths and arrests in protests in multiple cities. Biya, now the world’s oldest state leader at 92, has ruled Cameroon since 1982. His victory in the October 12 election, announced on Monday, has deepened tensions in the cocoa and oil-producing nation, where critics accuse him of using state institutions to cling to power.
