South African rand weakens ahead of local inflation data, Fed decision
At 0723 GMT, the rand traded at 18.21 against the dollar , more than 0.4% weaker than its previous close.
Domestic investors will look to the statistics agency at 0800 GMT for the release of South Africa's February inflation data.
Economists polled by Reuters estimate inflation rose 3.3% year-on-year last month.
Local retail sales figures are due at 1100 GMT.
The Fed is widely expected to keep rates steady later on Wednesday, amid investor worries over an economic slowdown due to President Donald Trump's tariffs.
On the stock market, the Top-40 (.JTOPI), opens new tab index was last trading 0.4% higher.
South Africa's benchmark 2030 government bond was stronger in early deals, with the yield down 2.5 basis points to 9.10%.
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Scottish Sun
17 minutes ago
- Scottish Sun
Brits face new £185 visa fee when visiting the US under new rules
Plus, the cost of an ESTA tourist visa waiver for US holidays is expected to double HOL-D ON Brits face new £185 visa fee when visiting the US under new rules Click to share on X/Twitter (Opens in new window) Click to share on Facebook (Opens in new window) VISITORS heading to America could face a 'Visa Integrity Fee' under new rules. The new fee falls under President Donald Trump's 'One Big Beautiful Bill' and could see Brits paying a substantial fee to visit America. Sign up for Scottish Sun newsletter Sign up 3 Brits could have to pay a new fee to visit the US Credit: Getty 3 Under a new bill, any traveller that needs a 'nonimmigrant visa' will have to pay $250 Credit: Getty The fee will apply to anyone who needs a 'non-immigrant visa' - which includes people travelling for business, study and temporary work for more than three months. It will cost around $250 (£185.80) and is expected to be introduced before the end of 2025. The cost will also be on top of all existing visa application fees. Individuals will pay the fee once a visa is issued and if an application is denied, then you won't be charged the fee. The fee will also be reimbursed if travellers stick to their visa conditions such as not working illegally and not overstaying their visa by more than five days. The reimbursement will be given after your visa expires - although, the process is not clear yet. Once the fee is implemented, the money will go to the US treasury Department's general fund and is estimated to bring in $28.9billion (£21.3billion) over the next decade. There will also be an increase in the fee for the I-94 form, which records arrival and departure dates. The fee will rise from $6 (£4.46) to $24 (£17.84). According to CNBC, a spokesperson from the Department of Homeland Security said: "President Trump's One Big Beautiful Bill provides the necessary policies and resources to restore integrity in our nation's immigration system." Big Changes Coming to Airport Security: TSA Liquid Rule May Be Axed Soon However, under the Visa Waiver Programme (VWP) - which the UK is part of - most Brits travelling to the US for tourism or short business trips, do not need a visa. Instead, they will need to apply for an Electronic System for Travel Authorisation (ESTA). As a result, Brits eligible for and using an ESTA, will not need to pay the new Visa Integrity Fee. Brits that will be impacted by the new fee include those travelling for a purpose not covered by the VWP such as long-term study or certain types of employment or those not eligible for VWP due to their travel history, like travel to restricted countries. According to the website, travellers can apply for an ESTA via the Official ESTA Application Website or by using the ESTA mobile app. Though travellers may be unable to apply for an ESTA visa waiver if they have been arrested, have a criminal record, have been refused admission into or have been deported from the US or have previously overstayed an ESTA visa waiver. An ESTA application costs $21 (£15.60) and can take up to 72 hours to be approved. Tourist visa waiver for US holidays to cost more THE fee for an Electronic System for Travel Authorization (ESTA) is expected to rise in the future. Thanks to a new bill being passed, the price of an ESTA is set to double from $21 (£15.38) to $40 (£29.30). Before entering the US, Brits are required to apply for an Electronic System for Travel Authorization (ESTA). The fee is currently $21 (£15.38) to apply for an ESTA - a price which was introduced in May 2022. Prior to this date, the fee was $14 (£10.25) and will now rise to $40 (£29.30) although an official start date is yet to be confirmed. The rise in fees is part of US President Donald Trump's "One Big Beautiful Bill". The current rules require every visitor from the UK to apply for an ESTA to be allowed access into the United States. An ESTA is generally valid for two years from the date of approval, or until the passport used for the application expires, whichever comes first. If your passport expires before the two-year period, your ESTA will be valid only until the passport's expiration date. These are the latest travel rules for Brits heading to America after European tourists have been stopped at the border. Plus, Brits will face a new £17 visa-waiver charge to travel to Europe next year.
Reuters
18 minutes ago
- Reuters
Trade hope sends Wall Street futures higher; earnings kick into high gear
July 21 (Reuters) - Wall Street futures inched up on Monday, buoyed by hopes of breakthrough trade deals and ahead of earnings from industrial and tech giants that could set the tone for markets this week. S&P 500 E-minis rose 15.75 points, or 0.25%, at 7:03 a.m. ET, and Nasdaq 100 E-minis climbed 66.25 points, or 0.29%, hovering near all-time highs hit last week. Dow E-minis were up 92 points, or 0.21%. With President Donald Trump's August 1 tariff deadline looming, investors are hopeful that there will soon be signs of fresh trade deals. The European Union is, however, gearing up with an arsenal of potential counter-measures against the United States, EU diplomats said, as hopes for a breakthrough trade deal with Washington dwindled. This comes after U.S. Commerce Secretary Howard Lutnick on Sunday expressed confidence over striking a trade deal with the EU. Trump has sent letters to other trading partners including Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% to 50%. The S&P 500 (.SPX), opens new tab and the Nasdaq (.IXIC), opens new tab notched new records last week as investors shrugged off tariff threats, betting the economic fallout might not be as dire as once feared. Meanwhile, the blue-chip Dow hovered just 1.64% shy of its all-time high. Markets delivered a mixed reaction to the earnings season that kicked off last week, showing that even a blockbuster report was not enough to impress investors. Netflix (NFLX.O), opens new tab, for instance, posted its steepest intraday tumble in over three months on Friday despite beating earnings' estimates. Now, all eyes are on marquee names such as Alphabet (GOOGL.O), opens new tab and Tesla (TSLA.O), opens new tab, whose results this week will kick off the "Magnificent Seven" earnings parade, and could set the tone for Wall Street. Shares of Tesla and Alphabet were up over 1% each in premarket trading. Verizon (VZ.N), opens new tab gained 4.2% after boosting its annual profit forecast. Meanwhile, shares of Domino's Pizza rose 5.2% after the world's largest pizza chain surpassed analysts' expectations for second-quarter U.S. same-store sales. Of the 59 S&P 500 companies that have reported quarterly earnings so far this season, 81.4% have surpassed Wall Street's earnings expectations, compared with a long-term average of 67.1%, according to LSEG I/B/E/S data as of Friday. The week is light on the economic data front, with only notable indicators being weekly jobless claims figures and the July business activity report expected on Thursday. Investors will closely analyze Federal Reserve Chair Jerome Powell's remarks on Tuesday for any clues on the central bank's next move, especially after last week's mixed inflation signals. Traders have largely ruled out a July rate cut, and are now pegging the odds at about 60% for a September reduction, according to CME Group's FedWatch tool. Ethereum-linked companies Bitmine Immersion Technologies , Gamesquare Holdings (GAME.O), opens new tab, BTCS (BTCS.O), opens new tab and Sharplink Gaming (SBET.O), opens new tab advanced between 5.5% and 6.7% as ether traded near its highest level this year after Trump signed into law a bill regulating stablecoins in the United States.
The Sun
18 minutes ago
- The Sun
Brits face new £185 visa fee when visiting the US under new rules
VISITORS heading to America could face a 'Visa Integrity Fee' under new rules. The new fee falls under President Donald Trump 's 'One Big Beautiful Bill' and could see Brits paying a substantial fee to visit America. 3 3 The fee will apply to anyone who needs a 'non-immigrant visa' - which includes people travelling for business, study and temporary work for more than three months. It will cost around $250 (£185.80) and is expected to be introduced before the end of 2025. The cost will also be on top of all existing visa application fees. Individuals will pay the fee once a visa is issued and if an application is denied, then you won't be charged the fee. The fee will also be reimbursed if travellers stick to their visa conditions such as not working illegally and not overstaying their visa by more than five days. The reimbursement will be given after your visa expires - although, the process is not clear yet. Once the fee is implemented, the money will go to the US treasury Department's general fund and is estimated to bring in $28.9billion (£21.3billion) over the next decade. There will also be an increase in the fee for the I-94 form, which records arrival and departure dates. The fee will rise from $6 (£4.46) to $24 (£17.84). According to CNBC, a spokesperson from the Department of Homeland Security said: "President Trump's One Big Beautiful Bill provides the necessary policies and resources to restore integrity in our nation's immigration system." Big Changes Coming to Airport Security: TSA Liquid Rule May Be Axed Soon However, under the Visa Waiver Programme (VWP) - which the UK is part of - most Brits travelling to the US for tourism or short business trips, do not need a visa. Instead, they will need to apply for an Electronic System for Travel Authorisation (ESTA). As a result, Brits eligible for and using an ESTA, will not need to pay the new Visa Integrity Fee. Brits that will be impacted by the new fee include those travelling for a purpose not covered by the VWP such as long-term study or certain types of employment or those not eligible for VWP due to their travel history, like travel to restricted countries. According to the website, travellers can apply for an ESTA via the Official ESTA Application Website or by using the ESTA mobile app. Though travellers may be unable to apply for an ESTA visa waiver if they have been arrested, have a criminal record, have been refused admission into or have been deported from the US or have previously overstayed an ESTA visa waiver. An ESTA application costs $21 (£15.60) and can take up to 72 hours to be approved. Tourist visa waiver for US holidays to cost more THE fee for an Electronic System for Travel Authorization (ESTA) is expected to rise in the future. Thanks to a new bill being passed, the price of an ESTA is set to double from $21 (£15.38) to $40 (£29.30). Before entering the US, Brits are required to apply for an Electronic System for Travel Authorization (ESTA). The fee is currently $21 (£15.38) to apply for an ESTA - a price which was introduced in May 2022. Prior to this date, the fee was $14 (£10.25) and will now rise to $40 (£29.30) although an official start date is yet to be confirmed. The rise in fees is part of US President Donald Trump's "One Big Beautiful Bill". The current rules require every visitor from the UK to apply for an ESTA to be allowed access into the United States. An ESTA is generally valid for two years from the date of approval, or until the passport used for the application expires, whichever comes first. If your passport expires before the two-year period, your ESTA will be valid only until the passport's expiration date. These are the latest travel rules for Brits heading to America after European tourists have been stopped at the border. Plus, Brits will face a new £17 visa-waiver charge to travel to Europe next year.
