{"id":16521,"date":"2012-11-08T20:43:20","date_gmt":"2012-11-08T18:43:20","guid":{"rendered":"http:\/\/www.myza.co.za\/11\/bleak-mining-factory-data-drags-s-africas-rand-weaker-vs-dlr\/"},"modified":"2012-11-08T20:43:20","modified_gmt":"2012-11-08T18:43:20","slug":"bleak-mining-factory-data-drags-s-africas-rand-weaker-vs-dlr","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/bleak-mining-factory-data-drags-s-africas-rand-weaker-vs-dlr\/","title":{"rendered":"Bleak mining, factory data drags S.Africa’s rand weaker vs dlr"},"content":{"rendered":"

\t\t<\/span><\/p>\n

* Rand loses the most amongst its peers<\/span><\/p>\n

<\/span><\/p>\n

* Falls 1.2 pct on local output data, weak euro<\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Nov 8 (Reuters) – The rand fell over one
\npercent against the dollar after weaker-than-expected mining and
\nmanufacturing data on Thursday painted a bleak growth picture
\nfor Africa’s largest economy.<\/p>\n

<\/span><\/p>\n

South Africa’s currency extended the losses in late
\nafternoon trade as the euro sank after downbeat European Central
\nBank comments on the euro zone economy.<\/p>\n

<\/span><\/p>\n

September data released earlier in the session showed South
\nAfrican manufacturing output contracted 1.1 percent, against
\nexpectations for a 0.5 percent fall, and compared to a 2.8
\npercent expansion in August.<\/p>\n

<\/span><\/p>\n

Strikes that began in the mining sector in August were
\nlargely to blame, with mining output down 8.3 percent in
\nSeptember, its weakest performance in 5 months.<\/p>\n

<\/span><\/p>\n

The rand was down 1.2 percent at 8.7455 against the
\ndollar in late afternoon trade, making it the day’s biggest
\nloser in a basket of emerging market currencies trading against
\nthe dollar and tracked by Reuters. It had managed a 8.6336 close
\nin New York on Wednesday.<\/p>\n

<\/span><\/p>\n

“The external environment is broadly risk-off, but the rand
\nhas underperformed its EMEA peers and this can only be due to
\nthe disappointing mining and manufacturing output releases,”
\nsaid Christopher Shiells, emerging market analyst for Informa
\nGlobal Markets.<\/p>\n

<\/span><\/p>\n

Thursday’s move shifted the rand back into its three-week
\nrange, with dealers saying they were bracing for the next bad
\nnews that would push the currency out of the range towards
\nweaker levels.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

* Rand loses the most amongst its peers * Falls 1.2 pct on local output data, weak euro JOHANNESBURG Nov 8 (Reuters) – The rand fell over one percent against the dollar after weaker-than-expected mining and manufacturing data on Thursday painted a bleak growth picture for Africa’s largest economy. South Africa’s currency extended the losses […]<\/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-16521","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\/16521","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=16521"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/16521\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=16521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=16521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=16521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}