{"id":12715,"date":"2012-07-24T13:24:45","date_gmt":"2012-07-24T11:24:45","guid":{"rendered":"http:\/\/www.myza.co.za\/07\/rand-firms-in-temporary-reprieve-on-chinese-data\/"},"modified":"2012-07-24T13:24:45","modified_gmt":"2012-07-24T11:24:45","slug":"rand-firms-in-temporary-reprieve-on-chinese-data","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/rand-firms-in-temporary-reprieve-on-chinese-data\/","title":{"rendered":"Rand firms in temporary reprieve on Chinese data"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* But the currency should weaken later this week<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Central bank sentiment indicator due at 0700 GMT<\/p>\n<p><span><\/span><\/p>\n<p>* Weekly government debt auction at 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, July 24 (Reuters) &#8211; The rand firmed against<br \/>\nthe dollar on Tuesday, tracking global markets that were cheered<br \/>\nby signs of improvement in Chinese manufacturing data, while<br \/>\ngovernment bonds improved from weaker levels from the previous<br \/>\nsession.<\/p>\n<p><span><\/span><\/p>\n<p>The South African currency was up 0.4 percent to<br \/>\nthe dollar at 8.4283 by 0606 GMT, after hitting a near one month<br \/>\nlow on Monday as investors globally sought cover in safe haven<br \/>\nassets from Spain&#8217;s debt troubles.<\/p>\n<p><span><\/span><\/p>\n<p>It closed at 8.4630 in Monday&#8217;s session and dealers are<br \/>\nlooking for the rand to test the 8.50 level later this week as<br \/>\nthe recovery may be short-lived.<\/p>\n<p><span><\/span><\/p>\n<p>Risk appetite returned on Tuesday with China&#8217;s PMI at its<br \/>\nhighest level in five months, but still looking shaky below the<br \/>\nkey 50 level on the index, with the market looking for any good<br \/>\nnews to hold onto.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Usually when we have such a vicious move on one day the<br \/>\nmarket does not have the momentum to carry it further the next,&#8221;<br \/>\nsaid Warrick Butler, Standard Bank&#8217;s rand trader.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We have had two days, Friday and Monday, in a &#8216;risk off&#8217;<br \/>\nenvironment and so my feeling is we will either have a day of<br \/>\nconsolidation or a bit of profit-taking after such an extensive<br \/>\nmove.&#8221;<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* But the currency should weaken later this week * Central bank sentiment indicator due at 0700 GMT * Weekly government debt auction at 0900 GMT JOHANNESBURG, July 24 (Reuters) &#8211; The rand firmed against the dollar on Tuesday, tracking global markets that were cheered by signs of improvement in Chinese manufacturing data, while government [&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-12715","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\/12715","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=12715"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/12715\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=12715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=12715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=12715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}