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Rand gains on improved risk demand, markets end stronger
The Johannesburg Stock Exchange (JSE) ended the week on a strong note backed by higher spot gold prices and the general positive sentiment.
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Rand gains as easing U.S-China tension boost risk demand
The rand was up 0.22% at 18.5400 per dollar after an overnight close of 18.5900, extending the gains that saw it rise around 2% this week.
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Rand jumps as Chinese data fuels recovery hopes, Anglo leads
The market mood stabilised globally as Beijing reported a 3.5% rise in April exports, confounding market expectations of a sharp fall, as factories restarted output after the coronavirus pandemic, raising hopes of an economic recovery.
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Rand falls amid weak economic data
In South Africa, private sector activity fell to a record low in April, a business survey showed on Wednesday, as temporary company closures led to a collapse in demand.
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Rand recovers in global emerging market bounce
Yields on government bonds fell sharply, reflecting strong prices, as the first weekly bond auction since South Africa’s exclusion the World Government Bond Index (WGBI) attracted strong demand.
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Rand recovers after selloff, stocks fall
A series of dismal manufacturing activity numbers and rising tensions between the United States and China dented risk sentiment on Monday, hitting emerging markets.
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Rand weaker on rising coronavirus fears
At 1600 GMT, the rand was 2.1% weaker at 18.5280 per dollar, rolling back from a 2-week best of 18.0200.
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Rand holds firmer on improved risk appetite
Global risk sentiment has been lifted with a number of major economies readying to reopen their economies and encouraging early results from a COVID-19 treatment trial.
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Rand firms as risk appetite grows
Sentiment improved as several states in the United States allowed businesses to reopen after a near-total halt in activity to contain the outbreak, while many other countries, such as Italy and Spain, plan to reopen their economies in the coming weeks.
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Rand, stocks rally as stimulus, easing lockdowns lift sentiment
The rand’s gains, however, were curbed by lingering concerns about South Africa’s credit rating after Moody’s on Friday warned about ballooning debt and the effectiveness of the stimulus.
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Rand weaker on rescue package funding worries
South Africa’s economy was in bad shape before the coronavirus crisis started. With this year’s budget deficit is forecast to reach an 18-year high and loss-making state firms like South African Airways and power utility Eskom are a drain on the public purse.
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Rand strengthens on government move to open economy from May
South Africa’s battered economy, along with rocketing debt and a yawning fiscal deficit, has weighed heavily on the rand, making it the worst-performing emerging market currency.
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Rand weakens as virus dents risk appetite
South Africa has spent nearly a month under restrictions requiring most of the population to stay at home apart from essential trips, leaving many businesses and individuals struggling.
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Rand firms ahead of president's lockdown address
At 1500 GMT the rand was 0.3% firmer at 18.9700 to the dollar in another volatile session swings from a session-best 18.8800 to more than R19 before bids in New York trading helped it to firm again.
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Rand gains before president's speech on reopening economy
President Cyril Ramaphosa said the government would adopt a phased approach to easing lockdown measures, which currently requires people to remain in their homes and allow only essential services to operate.
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Rand retreats as rescue package cheer wanes, stocks firm
At 1550 GMT the rand was 0.15% weaker at 19.0320 per dollar compared to the day’s high of 18.7200.
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Rand firms as South Africa announces COVID-19 rescue package
Among the measures to fund the rescue package, Ramaphosa said South Africa had approached global financial institutions like the World Bank, International Monetary Fund, the BRICS New Development Bank and the African Development Bank, primarily to fund healthcare interventions.
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Rand steady, oil crash in focus
The rand steadied against the dollar early on Tuesday, but traders expected the currency to remain under pressure as a plunge in US crude oil futures to below zero sapped risk appetite.
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Rand opens weaker as growth fears hurt riskier assets
The rand fell more than 4% versus the dollar last week, hurt by a surprise central bank interest rate cut and predictions that the domestic economy would suffer a severe contraction because of the COVID-19 pandemic.
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Rand stronger at end of torrid week
But the currency was on course for losses of roughly 4% versus the US dollar this week, hurt by a surprise rate cut and predictions that the global coronavirus pandemic will cause a deep economic contraction.
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Rand falls as deep recession fears weigh
The International Monetary Fund said on Wednesday sub-Saharan Africa’s gross domestic product was on track to shrink this year by 1.6% - its worst performance on record - because of the combined effects of the coronavirus and plummeting oil and commodities prices.
