Latest news with #rand
Reuters
11 hours ago
- Business
- Reuters
South African rand flat as uncertainty over Middle East conflict hangs over markets
JOHANNESBURG, June 20 (Reuters) - The South African rand was trading almost flat early on Friday, as investors worried about conflict in the Middle East, with Israel and Iran's air war entering a second week and a decision on potential U.S. involvement. At 0649 GMT the rand traded at 18.0250 against the dollar , little changed from Thursday's close. The U.S. dollar also traded flat against a basket of currencies with investors in limbo after the White House said on Thursday that Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war. No major domestic data releases are due on Friday but domestically, investors will look to producer inflation (ZAPPIY=ECI), opens new tab and leading indicator (ZALEAD=ECI), opens new tab data set to be released next week, to gauge the health of Africa's most industrialised economy. South Africa's benchmark 2035 government bond was marginally stronger in early deals, as the yield fell 2 basis points to 10.12%.
Reuters
a day ago
- Business
- Reuters
South African rand slips as risk appetite wanes, focus on central bank review
JOHANNESBURG, June 19 (Reuters) - The rand weakened in early trade on Thursday, weighed down by risk-off sentiment as the Iran-Israel conflict continued into a seventh day and as investors awaited the South African Reserve Bank's (SARB) Financial Stability Review. At 0651 GMT, the rand traded at 18.1075 against the U.S. dollar , roughly down 0.5% on Wednesday's close, and at it's lowest level in a month. This was in line with other emerging market peers as investors fled to safe haven assets while weighing the possibility of U.S. involvement in the Iran-Israel conflict. Later on Thursday, domestic investor attention will shift to the central bank's June Financial Stability Review, in which it evaluates risks to the country's financial stability and outlines the policy actions taken to mitigate them. Last month, the SARB cut its main lending rate, but stressed that U.S. President Donald Trump's trade war and elevated uncertainty were likely to pose risks. South Africa's benchmark 2035 government bond was weaker in early deals, with the yield rising 4 basis points to 10.16%.
Reuters
2 days ago
- Business
- Reuters
South African rand edges up before local inflation and retail sales data
JOHANNESBURG, June 18 (Reuters) - The South African rand edged up in early trade on Wednesday ahead of the release of domestic inflation and retail sales data, as investors also awaited an interest rates decision from the U.S. Federal Reserve later in the day. At 0637 GMT, the rand traded at 17.9350 against the dollar , about 0.6% firmer than Tuesday's close. The risk sensitive currency fell more than 1% on Tuesday as hostilities between Israel and Iran led investors towards safe assets, dulling the appeal of the local currency. Although it has showed signs of stabilising, "further gains are likely to be limited until after today's Fed decision," Andre Cilliers, Currency Strategist at TreasuryONE, said. Before that, South Africa-focussed investors will look to the monthly consumer price index data (ZACPIY=ECI), opens new tab due at 0800 GMT and retail sales data (ZARET=ECI), opens new tab two hours later to gauge the health of Africa's most industrialised economy. Economists polled by Reuters estimate inflation to have remained steady 2.8% in May, while retail sales are expected to have increased 3.1% in April. Nedbank economists said in a research note they expect consumer inflation to ease to 2.3% year-on-year in May and forecast a growth of 1.7% in retail sales, saying they would be "supported by the more subdued inflationary environment, lower interest rates and easing debt service costs, which has lifted real wages and discretionary spending". South Africa's benchmark 2035 government bond was little changed in early deals, with the yield down 0.5 basis points to 10.105%.
Zawya
3 days ago
- Business
- Zawya
South African assets sink on risk aversion after Israel's strike on Iran
South Africa's rand and government bonds fell steeply in early trade on Friday, 13 June 2025 after Israeli military strikes on Iran drove investors toward safe havens. At 0657 GMT, the risk-sensitive rand traded at 18.04 against the dollar, 1.6% weaker than Thursday's close. The rand had been on a strong run for weeks, helped by local coalition partners resolving a budget dispute, talk of a lower inflation target and strong precious metal prices. The escalation in hostilities in the Middle East - a major oil-producing region - adds a fresh layer of uncertainty for financial markets at a time of pressure on the global economy from US President Donald Trump's erratic trade policies. No major domestic data releases are due on Friday, but next week local consumer inflation and retail sales figures will be published. The yield on South Africa's benchmark 2035 government bond was up 16.5 basis points to 10.25%. All rights reserved. © 2022. Provided by SyndiGate Media Inc. (
Reuters
3 days ago
- Business
- Reuters
South African rand weakens on risk-off mood, economic data eyed
JOHANNESBURG, June 17 (Reuters) - The South African rand weakened in early trade on Tuesday, as risk sentiment remained fragile with the Israel-Iran conflict entering its fifth day. At 0626 GMT the rand traded at 17.83 against the dollar , 0.1% softer than Monday's close. Heightened uncertainty stemming from the Middle East conflict and U.S. President Donald Trump's call to Iranians to evacuate Tehran led investors to seek safe-haven assets, dulling the appeal of the local currency. Domestic investors will also look to consumer inflation (ZACPIY=ECI), opens new tab and retail sales (ZARET=ECI), opens new tab figures due on Wednesday, which may influence the South African Reserve Bank's thinking on monetary policy, though its next rate decision is not due till the end of July. South Africa's benchmark 2035 government bond was also weaker in early deals, with the yield rising 1.5 basis points to 10.155%.
