{"id":7972,"date":"2012-02-15T02:04:49","date_gmt":"2012-02-15T00:04:49","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/s-african-rand-weaker-bonds-trim-losses-after-auction\/"},"modified":"2012-02-15T02:04:49","modified_gmt":"2012-02-15T00:04:49","slug":"s-african-rand-weaker-bonds-trim-losses-after-auction","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-rand-weaker-bonds-trim-losses-after-auction\/","title":{"rendered":"S.African rand weaker, bonds trim losses after auction"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Exporter interest to limit rand losses<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds weaker but off session lows<\/p>\n<p><span><\/span><\/p>\n<p>* Retail sales data due Wed seen showing slower growth<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, Feb 14 (Reuters) &#8211; South African<br \/>\ngovernment bonds and the rand weakened on Tuesday as rising<br \/>\nglobal risk appetite dented demand for riskier emerging market<br \/>\nassets, but bonds later recovered some losses after a strong<br \/>\ndebt auction.<\/p>\n<p><span><\/span><\/p>\n<p>The rand was last trading at 7.7550 to the dollar,<br \/>\none percent weaker than Monday&#8217;s New York close of 7.6785. It<br \/>\nhit a session low of 7.7617.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There&#8217;s some good demand for dollars towards 7.70 with<br \/>\ndaily resistance in the 7.75\/78 area,&#8221; said a local dealer,<br \/>\nadding that while the rand could fall to 7.80, those levels<br \/>\nwould attract exporter dollar sales and cap sharper losses on<br \/>\nthe rand.<\/p>\n<p><span><\/span><\/p>\n<p>In the absence of market moving data locally, the rand took<br \/>\ndirection from abroad, with news that Moody&#8217;s could cut the<br \/>\ncredit ratings of France and Austria, after it downgraded six<br \/>\nother European nations, weighing on sentiment.<\/p>\n<p><span><\/span><\/p>\n<p>Euro zone finance ministers are expected to approve a new<br \/>\nbailout deal for Greece on Wednesday but Moody&#8217;s news was a<br \/>\nreminder that a Greek resolution would not be the end of the<br \/>\nregion&#8217;s problems and this would likely leave the rand<br \/>\nvulnerable, said Standard Bank in a note.<\/p>\n<p><span><\/span><\/p>\n<p>On fixed income, the yield on the 2015 bond rose<br \/>\n3.5 basis points to 6.61 percent and that on the 2026 note<br \/>\n rose four basis points to 8.285 percent.<\/p>\n<p><span><\/span><\/p>\n<p>Bonds are likely to stay in familiar ranges ahead of the<br \/>\nFinance Minister Pravin Gordhan&#8217;s Budget next Wednesday.<\/p>\n<p><span><\/span><\/p>\n<p>On Wednesday, eyes will be on local retail sales data out at<br \/>\n1100 GMT. The market is expecting December retail sales growth<br \/>\nto slow to 6.5 percent year-on-year and a stronger print could<br \/>\nbe supportive of the rand currency. \t<\/p>\n<p> (Reporting by Phumza Macanda)<\/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>* Exporter interest to limit rand losses * Bonds weaker but off session lows * Retail sales data due Wed seen showing slower growth JOHANNESBURG, Feb 14 (Reuters) &#8211; South African government bonds and the rand weakened on Tuesday as rising global risk appetite dented demand for riskier emerging market assets, but bonds later recovered [&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-7972","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\/7972","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=7972"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/7972\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=7972"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=7972"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=7972"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}