{"id":13386,"date":"2012-08-10T14:20:42","date_gmt":"2012-08-10T12:20:42","guid":{"rendered":"http:\/\/www.myza.co.za\/08\/s-africas-rand-weakens-on-chinese-trade-data\/"},"modified":"2012-08-10T14:20:42","modified_gmt":"2012-08-10T12:20:42","slug":"s-africas-rand-weakens-on-chinese-trade-data","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-weakens-on-chinese-trade-data\/","title":{"rendered":"S.Africa&#8217;s rand weakens on Chinese trade data"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand weaker on lacklustre Chinese trade data<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Volumes expected to be thin after holiday<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Aug 10 (Reuters) &#8211; South Africa&#8217;s rand fell<br \/>\nagainst the dollar on Friday as weaker-than-expected Chinese<br \/>\ntrade data undermined the growth prospects of Africa&#8217;s biggest<br \/>\neconomy.<\/p>\n<p><span><\/span><\/p>\n<p>At 0658 GMT, the rand was 0.75 percent weaker at 8.1323<br \/>\nagainst the dollar, after Wednesday&#8217;s New York close of 8.08.<br \/>\nVolumes are expected to be thin after a national holiday on<br \/>\nThursday.<\/p>\n<p><span><\/span><\/p>\n<p>China&#8217;s export and import growth came in well below<br \/>\nexpectations in July, weighed down by weakness in major trading<br \/>\npartners and lower commodity prices. South Africa relies heavily<br \/>\non China&#8217;s appetite for its resources.<\/p>\n<p><span><\/span><\/p>\n<p>Its economic growth slowed in the first quarter of 2012, hit<br \/>\nby a sharp contraction in mining, and a further slowdown in<br \/>\nresource-hungry China could hurt growth in subsequent quarters.<\/p>\n<p><span><\/span><\/p>\n<p>Economists surveyed by Reuters this month trimmed their 2012<br \/>\ngrowth forecasts to 2.5 percent from a previous projection of<br \/>\n2.8 percent due to economic contagion from the debt crisis in<br \/>\nEurope and a slowdown in China.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;In all, the global environment is not very inspiring for<br \/>\nthe rand,&#8221; Rand Merchant Bank said in a note.<\/p>\n<p><span><\/span><\/p>\n<p>Government bond yields inched up one basis point to 5.615<br \/>\npercent for the three year bond and 7.39 percent for<br \/>\nthe 14-year paper.<\/p>\n<p> (Reporting by Vuyani Ndaba; 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>* Rand weaker on lacklustre Chinese trade data * Volumes expected to be thin after holiday JOHANNESBURG Aug 10 (Reuters) &#8211; South Africa&#8217;s rand fell against the dollar on Friday as weaker-than-expected Chinese trade data undermined the growth prospects of Africa&#8217;s biggest economy. At 0658 GMT, the rand was 0.75 percent weaker at 8.1323 against [&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-13386","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\/13386","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=13386"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/13386\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=13386"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=13386"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=13386"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}