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Rand rebounds against softer dollar
July 21, 2011-- Government bonds gained on Thursday after a dovish Reserve Bank statement that suggested interest rates could stay at 30-year lows throughout 2011.
The rand hit one-week highs against a softer dollar as optimism about the eurozone’s debt crisis prompted investors to buy risky assets.
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Source: FIN24
JSE closes flat on US data
July 20, 2011--The JSE ended flat on Wednesday as mixed economic data from the US continued to drive markets.
By 17:00 local time, the JSE All Share [JSE:J203] index was flat (-0.01%), with gold miners down 1.43%, platinum miners falling 0.33%, and resources giving up 0.24%.
Financials gained 0.20%, while industrials rose 0.11%. Banks were also flat (0.04%).
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Source: FIN24
Foreign buying keeps bonds perky
July 20, 2011--South African bonds rallied in late trade on Wednesday, and were up to 12 basis points firmer as offshore interest boosted the market.
By 15:50, the benchmark R157 bond was at 7.410%, from its previous close of 7.495%. The R207 was bid at 8.270% and offered at 8.265% from 8.370%, and the R186 was trading at 8.490% from 8.615%.
The rand was bid at 6.9032 against the dollar from its previous close of 6.9118.
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Source: FIN24
JSE gains on US housing data
July 19, 2011-- The JSE ended in the black on Tuesday buoyed by sentiment in both Europe and the US.
By 17:00 local time, the JSE All Share [JSE:J203] index garnered 0.59%, with platinum miners rising 1.45%, and resources up 1.40%. Gold miners however, lost 0.75%. Banks slipped 0.04%, financials eked out a gain of 0.06%, and industrials added 0.19%.
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Source: FIN24
Bonds stay firm in late trade
July 19, 2011--South African bonds were firmer in late trade on Tuesday, which a trader said was on the back of the strong local currency.
"The rand has strengthened a few cents and we're tracking that. The auction also went quite well," the trader said
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Source: FIN24
Strikes weigh down rand
July 19, 2011--The rand recouped some of its overnight losses against a struggling dollar on Tuesday but was on the back foot against other currencies, as wage strikes that have hit fuel supplies dampened sentiment towards local assets.
Government bonds were steady or firmer after a weekly auction that showed strong demand at the longer end of the curve.
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Source: FIN24
JSE in the red on eurozone worries
July 18, 2011--The JSE continued in the red on Monday afternoon as global markets remained concerned about the eurozone debt crisis. A local trader said that gold stocks were the only performers at midday on the back of a higher gold price and a weaker rand.
By noon local time, the JSE All-share index lost 0.84%, with banks down 1.52%, financials off 1.03% and industrials down 0.94%. Resources fell 0.67%, while platinum miners gave up 0.40%.
Gold miners were positive, adding 2.14%.
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Source: FIN24
Bonds maintain weaker bias
July 18, 2011--- South African bonds remained up to five basis points weaker during late trade on Monday, which a trader attributed to the soft rand weighing on the market.
By 15:50, the benchmark R157 bond was trading at 7.530% from a previous close of 7.480%. The R207 was bid at 8.415% and offered at 8.385% from 8.365%, and the R186 was trading at 8.635% from 8.595%.
The rand was bid at 6.9810 against the dollar from its previous close of 6.8886.
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Source: FIN24
Bonds stay quiet in subdued trade
July 15, 2011-South African bonds remained mostly flat in quiet late trade on Friday, amid low volumes. The longer-dated R186s were slightly firmer.
By 15:50, the benchmark R157 bond was trading at 7.470%, unchanged from its close. The R207 was bid at 8.370% and offered at 8.345% from 8.365%, and the R186 was trading at 8.580% from 8.585%.
The rand was bid at 6.9049 against the dollar from its previous close of 6.8326.
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Source: FIN24
Risk aversion drags down rand
July 15, 2011--The rand was weaker against the dollar in late afternoon trade on Friday on risk aversion, as markets anxiously awaited the results of stress tests on European banks and amid worries about the US debt ceiling.
"The rand still hasn't gone beyond R6.95/$ but it is exhibiting a weakening bias," Standard Bank forex analyst Michael Keenan said.
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Source: FIN24
