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Rand firms as global monetary easing takes spotlight
The rand drew support from new stimulus measures by the European Central Bank (ECB) after it promised an indefinite supply of fresh asset purchases and cut interest rates deeper into negative territory to support the economy.
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Rand slips on dismal business confidence data; all eyes on ECB
The rand fell in early trade on Thursday, after data showed that a gauge of country’s business confidence hit its lowest in decades, while investors awaited outcome of an European Central Bank (ECB) meeting.
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Rand stretches gains on easing downgrade worries
The rand has advanced more than 3% since last week’s better-than-expected second-quarter economic growth data, and as comments by ratings firm Moody’s on Tuesday that downgrade from Baa3 to sub-investment was unlikely in the near-term further boosted sentiment.
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Rand firms ahead of manufacturing data
The rand firmed against the dollar in early trade on Tuesday ahead of manufacturing data that will give investors fresh clues about the health of the most industrialised African economy.
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Rand starts week on the front foot
The rand strengthened against the dollar on Monday, with momentum reignited by upbeat remarks from the US Federal Reserve chairman and a Chinese economic stimulus package.
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Rand firmer on easing trade fears
The rand firmed against the dollar in early trade on Friday on improved risk appetite as trade tensions eased, while stocks were flat.
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Rand rallies for third day as global risk-on adds to GDP boost
The rand firmed for a third consecutive session to a new one-month high early on Thursday, with the boost from a better-than-expected growth figures earlier in the week sustained by a return of global risk demand.
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Rand extends rally to 3-week high after GDP boost
The rand rose to a three-week high early on Wednesday following a better-than-expected jump in second quarter economic growth, brushing off concerns over anti-immigrant protests locally and the ongoing US-China trade dispute.
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Rand strengthens slightly before second quarter GDP data
The rand strengthened slightly in early trade on Tuesday in the build up to the release of second quarter economic growth figures.
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Rand steady, focus on new US-China tariffs
At 0620 GMT, the rand traded at R15.1950 per dollar, not far off its close of R15.1850 on Friday.
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Rand slightly weaker ahead of trade data
Trade and budget balance data releases in the session are unlikely to ease concerns about the country’s fiscal deterioration, and risks of contagion from Argentina’s financial crisis are bolstering a bearish investor outlook in the near-term.
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Rand weaker as risk sentiment sours
The rand weakened early on Thursday as risk sentiment globally continued to be shaken by the trade stand-off between China and the United States and the possibility of recession.
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Rand inches up in subdued trade
The currency has struggled for momentum in either direction this week with a lull in local political developments offsetting the swings in the trade spat between Washington and Beijing, with traders opting to hold fire as negotiations between the two superpowers continue.
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Rand weaker in cautious trade
The rand had strengthened briefly beyond the R15.2500 mark in Asian trading after US President Donald Trump on Monday flagged the possibility of a trade deal with China, days after both sides announced new tariffs.
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Rand slides as US-China trade spat weighs
The rand has suffered in August, sliding around 12% as local pressures linked to the growing chance of a credit downgrade to junk by Moody’s, and uncertainty offshore, have stalled any long bets on the currency.
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Rand firms as deficit fears ease
Gains were spurred by the National Treasury’s promise to cut costs and keep spending down.
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Rand firmer after inflation undershoots
The rand firmed early on Thursday, boosted by a lower than expected inflation reading that eased investors’ concerns about economic growth.
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Rand firms ahead of Fed minutes, local inflation data
The rand has lost nearly 7% since 1 August, battered by local and global issues and breaking through a succession of technical milestones on its way to R15.50, a pivot-point last reached in September 2018.
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Rand pauses recent slide as investors await next trigger event
The rand has lost close to 10% since 1 August, battered by local and global issues, breaking through a succession of technical milestones on its way to R15.50, a key pivot-point last reached in September 2018 that would trigger stop-losses held by importers and open the path to a deeper retreat.
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Rand flat as investors weigh local, global risks
The rand has fallen more than 6% since the beginning of August, pressured by the rising likelihood of a credit ratings downgrade by Moody’s linked to a massive, additional bailout for state power firm Eskom and signs of slower global growth.
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Rand firms as investors await next bout of weakness
The rand has fallen more than 9% since the beginning of August, pressured by the rising likelihood of a credit ratings downgrade by linked to massive, additional bailout to state power firm Eskom and, this week, by signs of a slower global growth.
