{"id":7559,"date":"2012-02-01T09:24:46","date_gmt":"2012-02-01T07:24:46","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-africas-rand-steady-vs-dollar-eyes-on-pmi\/"},"modified":"2012-02-01T09:24:46","modified_gmt":"2012-02-01T07:24:46","slug":"s-africas-rand-steady-vs-dollar-eyes-on-pmi","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-steady-vs-dollar-eyes-on-pmi\/","title":{"rendered":"S.Africa&#8217;s rand steady vs dollar, eyes on PMI"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Rand support at 7.83\/4 area<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds weaker, eyes on PMI at 0900 GMT<\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG<\/span> Feb 1 (Reuters) &#8211; South Africa&#8217;s rand<br \/>\nsteadied against the dollar on Wednesday and could keep a firmer<br \/>\ntone on the back of high metal prices but sentiment is still<br \/>\nfragile.<\/p>\n<p><span><\/span><\/p>\n<p>Government bonds were largely unchanged with the market&#8217;s<br \/>\neyes on PMI data out at 0900 GMT. The PMI slipped back into<br \/>\ncontractionary territory in December at 49.4, an indication that<br \/>\nthis key sector is still struggling.<\/p>\n<p><span><\/span><\/p>\n<p>Another reading below 50 would suggest interest rates may<br \/>\nhave to remain lower for longer and be supportive of bonds.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was trading at 7.81 to the dollar at 0640<br \/>\nGMT, not far from Tuesday&#8217;s New York close of 7.82.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;What we are seeing is a continuation of last week&#8217;s risk-on<br \/>\nscenario and commodity currencies are doing well,&#8221; said Jim<br \/>\nBryson, chief dealer at Rand Merchant Bank.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We are a higher yielding currency and the world is<br \/>\nsemi-stable so on that basis foreigners are looking to come back<br \/>\nto the rand.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>The rand might weaken a bit but as long as it does not break<br \/>\nsupport at 7.84 it will remain in ranges, he said.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Rand support at 7.83\/4 area * Bonds weaker, eyes on PMI at 0900 GMT JOHANNESBURG Feb 1 (Reuters) &#8211; South Africa&#8217;s rand steadied against the dollar on Wednesday and could keep a firmer tone on the back of high metal prices but sentiment is still fragile. Government bonds were largely unchanged with the market&#8217;s [&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-7559","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\/7559","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=7559"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7559\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}