#RandReport: Rand firms on weaker dollar, stocks fall

  • 📰 ewnupdates
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 53%

Belgique Nouvelles Nouvelles

Belgique Dernières Nouvelles,Belgique Actualités

RandReport: Rand firms on weaker dollar, stocks fall

JOHANNESBURG - South Africa’s rand firmed on Monday, gaining alongside other emerging market currencies as concerns over a possible recession in the United States dented the dollar.

Most developing world currencies firmed on Monday as the dollar took a back seat after the US yield curve inverted on Friday for the first time since mid-2007, the strongest indication of a possible recession for the world’s largest economy. “The decision by Moody’s is far more touch-and-go as market participants continue to debate whether South Africa’s metrics have deteriorated enough to warrant a downgrade in its sovereign outlook,” RMB analyst Nema Ramkhelawan-Bhana said in a note.

Bonds also firmed, with the yield on the benchmark paper due in 2026 falling 4 basis points to 8.71%.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 30. in BE

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Rand firms in mild emerging-market recoveryThe local currency is slightly stronger against the pound on Monday morning, amid reports that UK Prime Minister Theresa May may be on her way out
La source: BDliveSA - 🏆 12. / 63 Lire la suite »

Rand remains flat as market waits for US FedThe US Federal Reserve's monetary policy decision later is keeping markets cautious
La source: BDliveSA - 🏆 12. / 63 Lire la suite »