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Rand set to end week firmer but stocks drop
The currency hit a one-week high of R17.3325 before trimming the gains, with market sentiment weighed by concerns over the return of power cuts at a time when economic activity is being stifled by the COVID-19 pandemic.
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Rand firms against dollar, power cuts cap gain
The rand firmed against the dollar on Thursday as hopes of more economic stimulus in the United States waned, although fresh power cuts in South Africa limited its currency’s gains.
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Rand extends gains, stocks rally for second day
The rand has been under pressure from shifts in investor appetite for emerging market assets as well as weak economic data pointing to a deep recession in South Africa in 2020 due to the impact of the coronavirus pandemic and a slow recovery in 2021.
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Rand recovers, stocks shrug off US-China tension
The currency has suffered sharp losses in the past two weeks, losing more than 7% of its value against the dollar as sentiment towards emerging market currencies soured with a pickup in the global economy seeming to be slower than initially hoped.
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Rand slips to 10-week low, stocks continue bull run
The rand has failed to benefit from the dollar’s decline, though, with investors sitting on the fence.
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Rand recovers after slipping to two-month low, stocks rise
On the stock market, shares were led higher by gold miners as bullion burst above historic resistance of $2,000 per ounce, with investors seeking a safe store of value.
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Rand slips to 2-month low, stocks firm
The rand slipped to its weakest in two months on Tuesday, in a risk-averse mood amid fears over the pace of economic recovery as coronavirus cases surge.
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Rand falls, focus on virus impact
The rand weakened in early trade on Thursday, as investors kept a close eye on the coronavirus trajectory with many countries still recording a surge in COVID-19 cases.
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Rand firmer ahead of local CPI, Fed decision
The US central bank is widely expected to reinforce its loose monetary stance.
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Rand firms, focus on Fed meeting
Analysts expected investor focus to be on offshore events, despite some key local data releases this week including consumer inflation and trade figures.
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Rand firms as dollar struggles
Locally, investors focus this week will be on a slew of economic data, including consumer price inflation on Wednesday and trade data on Friday.
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Rand weaker after central bank rate cut
Analysts said steadier rates in the final half of the could see the rand add to its recovery, with excess liquidity from stimulus programs in developed markets favouring risk assets.
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Rand up before central bank's rate decision
The rand has strengthened most of the week, spurred by the rescue package the European Union agreed and by investor hopes of a quick global economic recovery.
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Rand firmer as EU rescue deal boosts risk demand
The rand firmed early on Tuesday, with demand for riskier emerging market currencies boosted after European Union (EU) countries agreed a rescue package for their coronavirus-hit economies.
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Rand retreats as virus surge weighs on sentiment
The rand had rallied to a one-month best in mid-week before facing technical resistance around the R16.50 mark.
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Rand flat as COVID-19 infections climb
Risk demand was also weakened by data showing China's consumer demand slackened and by renewed tensions between Washington and Beijing.
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Rand firms as growth, vaccine hopes drive mood for risk
The rand firmed in early trade on Wednesday ahead of consumer inflation data and as hopes of economic recovery increased global risk appetite.
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Rand edges firmer as risk demand strained
The rand edged firmer early on Tuesday ahead of mining production data, clinging on to recent gains as investors continued to see value in holding the high-yielding currency despite signs of a creaking economy and climbing COVID-19 cases.
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Rand firms as dollar wobble lifts emerging currencies
The gains have been driven mainly by global sentiment rather than domestic factors, with investors searching for high yields on hopes for a quick economic recovery despite a global surge in COVID-19 infections.
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Rand retreats as global coronavirus surge sours sentiment
The currency had shrugged off dismal manufacturing data showing output fell 49.4% year on year in April, its worst in 12 years, as investors looked to emerging market currencies and commodities for the high yields largely absent in developed market currencies.
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Rand edges lower ahead of manufacturing data
The currency advanced more than 1% against the US currency on Wednesday as concerns about rising coronavirus infections globally and in the United States prompted a selloff in the dollar as investors looked for yield in higher-risk emerging market assets.
