{"id":8601,"date":"2012-03-06T02:55:46","date_gmt":"2012-03-06T00:55:46","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/south-africas-rand-bonds-weaker-in-think-trade\/"},"modified":"2012-03-06T02:55:46","modified_gmt":"2012-03-06T00:55:46","slug":"south-africas-rand-bonds-weaker-in-think-trade","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/south-africas-rand-bonds-weaker-in-think-trade\/","title":{"rendered":"South Africa’s rand, bonds weaker in think trade"},"content":{"rendered":"

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

* Gloomy global outlook weighs on rand<\/span><\/p>\n

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

* Bonds retreat, investors on sidelines ahead of auction<\/p>\n

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

JOHANNESBURG, March 5<\/span> (Reuters) – South Africa’s rand
\nwas on track for its second consecutive daily loss against the
\ndollar on Monday, weighed down by a gloomy global economic
\noutlook which dented emerging market sentiment.<\/p>\n

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

But local markets were reassured that monetary policy
\nremains intact after a senior official from the ruling ANC said
\nthere was no need for discussion of the central bank’s mandate,
\nas the Bank was already aware it must pursue inflation targeting
\nwith economic growth in mind.<\/p>\n

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

The ANC’s powerful labour union allies have in the past
\naccused the Reserve Bank of blindly focusing on its mandate to
\nkeep inflation within a 3-6 percent target band at the expense
\nof economic growth.<\/p>\n

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

The rand took most of its direction on Monday from
\ninternatonal market trends, with a raft of recent economic data
\npointing to weak global growth.<\/p>\n

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

The local currency hit a session trough of 7.59
\nagainst the dollar, its weakest level in seven days, and was
\n0.42 percent weaker at 7.5531 by 1639 GMT compared with Friday’s
\nclose at 7.5185.<\/p>\n

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

Bearish comments last week out of the U.S. Federal Reserve,
\na lower growth forecast for China and weak PMI data out of
\nEurope were all weighing against the rand, ETM market analyst
\nSean McCalgan said.<\/p>\n

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

“It’s really a combination of a weaker growth picture in the
\nshort term and I think that’s the bulk of where the rand is
\ntaking its direction from,” McCalgan said.
\n\u00a0 Continued…<\/strong><\/span><\/p>\n

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

* Gloomy global outlook weighs on rand * Bonds retreat, investors on sidelines ahead of auction JOHANNESBURG, March 5 (Reuters) – South Africa’s rand was on track for its second consecutive daily loss against the dollar on Monday, weighed down by a gloomy global economic outlook which dented emerging market sentiment. But local markets were […]<\/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-8601","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\/8601","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=8601"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8601\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8601"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8601"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8601"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}