RandReport: Rand gains on slow US wage growth, stocks up
JOHANNESBURG - The rand firmed on Friday, ending the first week of the new quarter more than 2% firmer as slow wage growth in the United States helped maintain demand for emerging currencies.The currency rallied as far as 14.0200, its best since Feb. 28, shortly after employment data from the US showed that while jobs increased by 196,000 wage growth had slowed, pushing the dollar lower.
The rand’s run towards 14.00 could unlock further gains, analysts said, with the cluster of stop-loss triggers around the level adding momentum to the rally before an expected spike in volatility as 8 May national elections approach.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand gains on hopes US-China trade war is easingDemand for emerging-market currencies grew after the Financial Times reported China and the United States had resolved most of the issues standing in the way of a trade deal.
Read more »
Rand gains on hopes US-China trade war is easingAt 9am the rand was up 0.53 percent at 14.1350 per dollar compared with a close of 14.2100 in New York.
Read more »
Rand range-bound as market eyes US-China talksUS President Donald Trump is expected to meet Chinese Vice-Premier Liu He later on Thursday amid speculation a deal is close
Read more »
MARKET WRAP: JSE and rand rally ahead of Moody’s decisionJSE heavyweight Naspers was 0.85% higher at R3,332.14 after reaching its best level in about seven months earlier in the day
Read more »
#RandReport: Rand, stocks edge higher ahead of Moody's reviewStocks strengthened, led by banks and retailers on expectations Moody’s would not downgrade its Baa3 rating on South Africa.
Read more »
Oil price spike and weakening rand feed massive fuel price hikeEconomists have warned that fuel price and electricity tariff increases are likely to create fertile conditions for investor uncertainty.
Read more »
Drug enforcement agents bust East Rand cocaine dealerDrug enforcement officers arrested two suspects and recovered a hijacked vehicle in Benoni.
Read more »
Rand firms after Moody's delays rating reviewSouth African markets on Friday were on edge over the impending review, with some economists concerned that a power crisis will cost the country its last investment-grade rating and lead to the outflow of billions of dollars.
Read more »
Moody’s SA rating delay welcomed amid fears of weaker randEconomist Goolam Ballim said that the upcoming elections will be defining for South Africa's investment market depending on the outcome.
Read more »
Rand extends Moody’s relief rallyThe local currency has gained almost 20c since the credit agency opted not to review SA’s credit rating
Read more »