SOUTH AFRICA: Cabinet Holds Lekgotla, Electricity Output Data Due
Feb-02 07:47
- The Cabinet holds its strategy meeting (lekgotla), with the country's energy situation set to top the agenda. Ministers are looking to chart the way forward for the administration ahead of President Cyril Ramaphosa's State of the Nation Address next Thursday. The Cabinet meeting comes on the heels of a gathering of the ruling ANC party's legkotla, which wrapped up on Monday.
- The Daily Maverick reported that Eskom will likely have to spend another ZAR5-6bn to buy more diesel by the end of this financial year, bringing the total cost of diesel this FY to ZAR22bn, nearly four times the budgeted value. According to the Daily Maverick, Eskom has been forced to purchase diesel from state-owned PetroSA for "exorbitant prices," with the diesel supplier insisting on upfront payments.
- The local data docket is rather thin today, includes electricity production/consumption readings for December.
Want to read more?
Find more articles and bullets on these widgets:
Historical bullets
USD: Mostly in the Red against the majors
Jan-03 07:46
- The USD is mostly in the red against the Majors and G10s, albeit circa flat versus the EUR, AUD, NZD.
- EURUSD saw a 74 pips range yesterday, but looking back to the 23rd of December, it was trading around 1.0613 at the end of that day, today trading at 1.0654.
- Similar for Cable, GBPUSD was trading at 1.2053 on the 23rd Dec, now at 1.2066.
EURIBOR OPTIONS: Put fly buyer
Jan-03 07:39
ERG3 97.00/96.875/96.75p fly, bought for 3.25 in 3k
EGB OPTIONS: Bund call spread buyer
Jan-03 07:31
RXG3 137/139cs, bought for 27 in 1.82k
