{"id":6651,"date":"2012-01-04T13:14:07","date_gmt":"2012-01-04T11:14:07","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/s-africa-rand-steady-eyes-global-markets\/"},"modified":"2012-01-04T13:14:07","modified_gmt":"2012-01-04T11:14:07","slug":"s-africa-rand-steady-eyes-global-markets","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-steady-eyes-global-markets\/","title":{"rendered":"S.Africa rand steady, eyes global markets"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Jan 4 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nwas stable against the dollar on Wednesday after notching its<br \/>\nfourth straight daily gain overnight and should continue to take<br \/>\nits cue from global developments in the absence of market-moving<br \/>\nlocal news.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>By 0658 GMT the rand was trading unchanged from its<br \/>\nNew York closing level of 8.0570 on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The rand traded quite strongly yesterday. The year started<br \/>\nrisk-on so we had positive performances in commodities and stock<br \/>\nmarkets. The euro also strengthened against the dollar after<br \/>\nthere was some good numbers that came out of the States,&#8221; a<br \/>\nJohannesburg rand trader said.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;But overnight in Asia we&#8217;ve see the euro come off from<br \/>\nthose highs of yesterday. For today we&#8217;re probably going to<br \/>\ntrade in an 8.00-12 range.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>From a technical perspective, a close firmer than 8.02 could<br \/>\nopen up a rally to 7.95 for the rand.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds were little changed from Tuesday&#8217;s closing<br \/>\nlevels as trading remains sluggish at the start of the year.<\/p>\n<p><span><\/span><\/p>\n<p>The yield on the benchmark 2015 bond was flat at<br \/>\n6.74 percent while the longer dated 2026 bond edged up<br \/>\none basis point to 8.51 percent.<\/p>\n<p><span><\/span><\/p>\n<p>Despite last year&#8217;s global selling of emerging market assets<br \/>\ndue to worries about contagion from debt problems in the euro<br \/>\nzone, South African bonds were cushioned by their high-yield<br \/>\nstatus, relative to yields in more developed countries.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We continue to maintain the view that once the ECB&#8217;s<br \/>\n(European Central Bank) recent loosening begins to impact the<br \/>\neuro zone economy more positively, and the same happens in the<br \/>\nUK economy &#8230; a healthy inflow to local equity and bond markets<br \/>\nis set to resume,&#8221; Tradition Analytics said in a note.\t<\/p>\n<p> (Reporting by Stella Mapenzauswa, editing by Ed Stoddard)<\/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 Jan 4 (Reuters) &#8211; South Africa&#8217;s rand was stable against the dollar on Wednesday after notching its fourth straight daily gain overnight and should continue to take its cue from global developments in the absence of market-moving local news. By 0658 GMT the rand was trading unchanged from its New York closing level of [&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-6651","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\/6651","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=6651"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6651\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6651"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6651"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6651"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}