06292016Wed
Last update: Wed, 29 Jun 2016 09pm

Middle East & Africa

Markets - FXMM - Middle East & Africa

South Africa's rand firmer on EM rally, retailers lift bourse JOHANNESBURG: South Africa's rand firmed late on Thursday as improved global risk appetite helped shift focus away from the possibility of a credit downgrade, while stocks also rose as retailers reported robust sales.At 1530 GMT the rand gained 0.3 percent to 15.6260 per dollar in a mixed session that saw the unit rally to 15.4955 before easing back.Standard & Poor's, which has South Africa one step short of subinvestment grade, is due to deliver its highly anticipated credit rating decision on June 3 following a visit to the country last week."The rand will probably be quite range bound until Friday next week when Standard and Poor's makes its decision," said fx trader at Capilis Assets Management Giacomo Bonavera. "You won't find a lot of people taking big positions in either direction."Fitch, also due to give its ratings decision next month, on Thursday warned South Africa to avoid populist measures in ...

Markets - FXMM - Middle East & Africa

South Africa's rand steady, stocks edge up in early trade JOHANNESBURG: South Africa's rand steadied against the dollar early on Thursday supported by investor appetite for riskier assets that was nonethless tempered by the possibility that the US Federal Reserve may raise interest rates. At 0647 GMT, the rand traded at 15.6645 per dollar, not far off its New York close of 15.6725 on Wednesday.Analysts said this week that risk appetite in emerging markets was buoyed by a debt relief deal being reached for Greece ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms on risk appetite, vulnerable to ratings downgrade fears JOHANNESBURG: South Africa's rand firmed to a one-week high against the dollar early on Wednesday on improved risk appetite, but analysts said the unit looked vulnerable to the possibility of a credit ratings downgrade and a U.S. Federal Reserve interest rate hike.At 0700 GMT, the rand traded at 15.5100 versus the dollar, 0.94 percent firmer from its New York close on Tuesday.The currency was trading at its strongest levels since May 17, according to Thomson ...

Markets - FXMM - Middle East & Africa

South Africa's rand firms on emerging market rally, stocks gain JOHANNESBURG: South Africa's rand firmed on Tuesday, buoyed by positive sentiment towards emerging markets assets, while Ascendis Health led stocks higher after announcing European acquisitions.At 1510 GMT, the rand traded at 15.6400 per dollar, 0.51 percent firmer from its New York close on Monday."It's a general risk-on thing. The Turkish (lira) led the way after the reappointment of Turkish cabinet," Rand Merchant Bank rand trader Jim Bryson said.Turkey's lira bounced off near four-month lows after ...

Markets - FXMM - Middle East & Africa

South Africa's rand weakens on US rate hike expectations JOHANNESBURG: South Africa's rand weakened nearly 1 percent on Monday as the dollar gained on rising expectations of a U.S. interest rate hike, while mining shares were hit by softer commodity prices.At 1500 GMT, the rand traded at 15.7670 per dollar, 0.84 percent weaker from its New York close on Friday.The Federal Reserve will likely tighten policy a bit quicker in 2017 than this year, a top Fed official said on Monday, noting the decision ...

Markets - FXMM - Middle East & Africa

South Africa's rand rallies, stocks boosted by commodity demand JOHANNESBURG: South Africa's rand strengthened on Friday, shrugging off renewed dollar strength as technical factors and a recovery in risk appetite globally helped the unit recoup recent losses, while stocks were lifted by demand for commodities. By 1545 GMT the rand had firmed 0.8 percent to 15.6680 per dollar, further away from the 16.00 mark that traders felt would have triggered further losses. Traders at London-based 4Cast said the currency was moving back into a ...

Markets - FXMM - Middle East & Africa

South Africa's rand steady after central bank holds rates; stocks weaker JOHANNESBURG: South Africa's rand retreated on Thursday after the central bank kept interest rates on hold, while stocks fell as the prices of commodities such as gold, silver and platinum slid on bets of a US rate hike. At 1620 GMT the rand was about flat at 0.09 percent to 15.8850 per dollar, nearer the 16.00 psychological level it last hit on March 16 as the dollar gained. The currency was volatile, turning weaker after ...