News Formal

Battered stocks lick wounds, the rand stretches losing streak

  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

Emerging market stocks bounced for the first time in nine sessions on Tuesday but gains were limited by fears of a slowdown in China and a hawkish U.S. Federal Reserve, while the rand struggled to break higher.

South Africa's rand weakened for the seventh straight session, remaining at its lowest level since early January. The currency was last down 0.4% against the greenback.

Emerging market currencies that had previously benefited from surging commodity prices triggered by the Ukraine war are gradually coming off their strong run as the reality of inflationary pressure, higher developed market rates coupled with a more mature period in emerging market monetary tightening cycles sets in.

The Russian rouble opened higher against the dollar in Moscow trade, while hitting a more than two-year high against the euro. Investors now look ahead to an expected rate cut on Friday.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 13. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Rand Report: Rand bruised and battered, amidst emerging-market correctionThe rand experienced a tremendous pullback during the trading rounds of last week. After consecutive weeks in the green, the ZAR has encountered a price correction and a reversal in the currency’s trendline. Sable_Intl
Source: TheSAnews - 🏆 25. / 59 Read more »

PHANTOM SHARES: The Finance Ghost: Anglo and Tongaat Hulett lick their wounds, Old Mutual plans BBBEE schemeIf you want to hedge out Anglo exposure, it seems that buying agriculture businesses in similar regions would be the way to do it. The rain is kind to farmers and abusive to miners.
Source: dailymaverick - 🏆 3. / 84 Read more »