{"id":9640,"date":"2012-04-04T15:51:19","date_gmt":"2012-04-04T13:51:19","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-africas-rand-opens-weaker-as-qe3-seen-unlikely\/"},"modified":"2012-04-04T15:51:19","modified_gmt":"2012-04-04T13:51:19","slug":"s-africas-rand-opens-weaker-as-qe3-seen-unlikely","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africas-rand-opens-weaker-as-qe3-seen-unlikely\/","title":{"rendered":"S.Africa’s rand opens weaker as QE3 seen unlikely"},"content":{"rendered":"

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

* Buying the rand as it dips seen as strategy<\/span><\/p>\n

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

* ADP numbers could give clues on U.S unemployment<\/p>\n

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

JOHANNESBURG, April 4<\/span> (Reuters) – South Africa’s rand and
\nbonds opened weaker on Wednesday against the dollar after a
\nrelease of the Federal Reserve’s minutes disappointed investors
\nbetting on further monetary easing for the world’s biggest
\neconomy.<\/p>\n

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

The rand was little changed against the greenback
\nat 0606 GMT, trading at 7.74 from New York’s close of 7.7450.<\/p>\n

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

“I think the big story of the night is the FOMC, they were
\nslightly less dovish and more hawkish than everyone actually
\nexpected, which put the dollar on the front foot,” said Lee
\nNaisbitt, a trader at Rand Merchant Bank.<\/p>\n

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

“For now 7.77 is first resistance through to 7.82, obviously
\nwe got the worry that we have non-farm payrolls on Friday being
\na holiday as well, we are going to have very thin market
\nconditions, we could come in on Tuesday considerably higher.”<\/p>\n

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

Traders will watch closely the March ADP employment report
\nin the United States, which could shed some light on the U.S
\nnon-farm payrolls due for release at the end of the week.<\/p>\n

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

With little trading expected ahead of the four-day Easter
\nholiday starting on Friday, the rand could firm when traders
\nreturn to their desks next week should the unemployment figures
\nshow an improvement.<\/p>\n

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

Bond yields rose 5.5 basis points each, with the yield on
\nthe 2015 issue up to 6.780 percent and that on the
\n2026 issue to 8.485 percent.<\/p>\n

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

On the bourse, the JSE’s blue-chip Top-40 March futures
\ncontract was down over half a percent before the 0700
\nGMT start of trade, pointing to a negative start.\t<\/p>\n

(Reporting by Vuyani Ndaba; editing by David Dolan)<\/p>\n

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

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

* Buying the rand as it dips seen as strategy * ADP numbers could give clues on U.S unemployment JOHANNESBURG, April 4 (Reuters) – South Africa’s rand and bonds opened weaker on Wednesday against the dollar after a release of the Federal Reserve’s minutes disappointed investors betting on further monetary easing for the world’s biggest […]<\/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-9640","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\/9640","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=9640"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9640\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9640"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9640"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9640"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}