{"id":12268,"date":"2012-07-10T12:26:23","date_gmt":"2012-07-10T10:26:23","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-africas-rand-eases-soft-chinese-data-weighs\/"},"modified":"2012-07-10T12:26:23","modified_gmt":"2012-07-10T10:26:23","slug":"s-africas-rand-eases-soft-chinese-data-weighs","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-eases-soft-chinese-data-weighs\/","title":{"rendered":"S.Africa&#8217;s rand eases, soft Chinese data weighs"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 10<\/span> (Reuters) &#8211; The rand weakened against<br \/>\nthe dollar early on Tuesday, pressured by a bleak global growth<br \/>\noutlook after soft Chinese data, while bonds firmed slightly as<br \/>\ninvestors awaited the results of a weekly debt auction likely to<br \/>\nbe dominated by offshore buying.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The rand was weighed down by weak Chinese June import data<br \/>\nwhich showed imports grew at half the expected pace &#8211; a slowdown<br \/>\nthat is likely to cause a deterioration in South Africa&#8217;s<br \/>\ncurrent account deficit as exports slow.<\/p>\n<p><span><\/span><\/p>\n<p>Over 35 percent of South Africa&#8217;s exports go to Asia,<br \/>\nagainst 25 percent to the euro zone.<\/p>\n<p><span><\/span><\/p>\n<p>The weak Chinese data signals a bigger gap in South Africa&#8217;s<br \/>\ntrade account, which drove the current account to its worst<br \/>\nlevel in over three years in the first quarter.<\/p>\n<p><span><\/span><\/p>\n<p>The rand weakened 0.3 percent to 8.2414\/dollar at<br \/>\n0644 GMT but was within Monday&#8217;s trading range and firmer than<br \/>\nthe previous session&#8217;s low of 8.30.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The Chinese data is impacting general risk appetite, but<br \/>\nalso more acutely South African assets due to the trade ties,&#8221;<br \/>\nsaid Christopher Shiells, emerging market analyst at Informa<br \/>\nGlobal Markets.<\/p>\n<p><span><\/span><\/p>\n<p>Yields on government bonds nudged lower to 5.94 percent on<br \/>\nthe 2015 and 7.865 percent on the 2026 issue<br \/>\n.<\/p>\n<p><span><\/span><\/p>\n<p>The Treasury is looking to sell 800 million rand of its 2031<br \/>\nbond, 800 million rand of the 2023 and 500<br \/>\nmillion rand of the 2018 at a weekly auction.<\/p>\n<p><span><\/span><\/p>\n<p>Offshore investors, who bought over 20 billion rand of local<br \/>\ndebt last month and drove yields to record lows, are expected to<br \/>\npick up the most stock.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, July 10 (Reuters) &#8211; The rand weakened against the dollar early on Tuesday, pressured by a bleak global growth outlook after soft Chinese data, while bonds firmed slightly as investors awaited the results of a weekly debt auction likely to be dominated by offshore buying. The rand was weighed down by weak Chinese June [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-12268","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=12268"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12268\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}