{"id":12464,"date":"2012-07-16T12:54:12","date_gmt":"2012-07-16T10:54:12","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/s-african-rand-bonds-steady-in-early-trade\/"},"modified":"2012-07-16T12:54:12","modified_gmt":"2012-07-16T10:54:12","slug":"s-african-rand-bonds-steady-in-early-trade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-bonds-steady-in-early-trade\/","title":{"rendered":"S.African rand, bonds steady in early trade"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, July 16<\/span> (Reuters) &#8211; The rand was steady<br \/>\nagainst the dollar in early Monday trade and should hold its own<br \/>\nas the market awaits Thursday&#8217;s monetary policy statement, at<br \/>\nwhich the Reserve Bank is likely to keep interest rates at<br \/>\n30-year lows.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By 0646 GMT the rand traded at 8.2650 versus the<br \/>\ndollar, barely changed from Friday&#8217;s close at 8.2625.<\/p>\n<p><span><\/span><\/p>\n<p>Emerging market sentiment remained cautiously buoyant after<br \/>\ndata last week showed growth is holding up steadily in China, a<br \/>\nkey importer of South African commodities, traders said.<\/p>\n<p><span><\/span><\/p>\n<p>The currency has also been supported by strong flows into<br \/>\nthe debt market from foreign accounts looking for yield.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It is hard to envisage a weaker rand over the next few<br \/>\nsessions and technically this is also the case so we will look<br \/>\nfor opportunities to sell into rallies for now, albeit on purely<br \/>\nan intra-day basis,&#8221; Standard Bank trader Warrick Butler said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There is a minor short-term support trend-line at 8.2300<br \/>\nand a break of that could see us move to last Tuesday&#8217;s (highs)<br \/>\nof 8.1600,&#8221; he added.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds steadied after last week&#8217;s rally, which<br \/>\npushed yields to new record lows.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the three-year paper was flat at its<br \/>\nprevious close of 5.81 percent while that for the 14-year issue<br \/>\n ticked up 1.5 basis points to 7.64 percent.<\/p>\n<p><span><\/span><\/p>\n<p>On the local front, the market is looking for direction from<br \/>\nconsumer inflation and retail sales data due on Wednesday while<br \/>\nThursday&#8217;s monetary policy statement could give clues on whether<br \/>\na rate cut is in the offing later this year.<\/p>\n<p><span><\/span><\/p>\n<p>All but two of the 23 economists polled by Reuters on Friday<br \/>\nexpected the repo rate to stay unchanged at 5.5 percent for now,<br \/>\nbut seven predicted a 50 basis point cut before year-end to give<br \/>\nthe struggling economy more stimulus. <\/p>\n<p> (Reporting by Stella Mapenzauswa; Editing by Ed Cropley)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, July 16 (Reuters) &#8211; The rand was steady against the dollar in early Monday trade and should hold its own as the market awaits Thursday&#8217;s monetary policy statement, at which the Reserve Bank is likely to keep interest rates at 30-year lows. By 0646 GMT the rand traded at 8.2650 versus the dollar, barely [&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-12464","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\/12464","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=12464"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12464\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12464"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12464"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}