{"id":9911,"date":"2012-04-14T04:12:08","date_gmt":"2012-04-14T02:12:08","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/s-africa-rand-slides-vs-dollar-after-china-gdp\/"},"modified":"2012-04-14T04:12:08","modified_gmt":"2012-04-14T02:12:08","slug":"s-africa-rand-slides-vs-dollar-after-china-gdp","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-africa-rand-slides-vs-dollar-after-china-gdp\/","title":{"rendered":"S.Africa rand slides vs dollar after China GDP"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Weak China GDP weighs on sentiment<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Bonds mixed, market interest lukewarm<\/p>\n<p><span><\/span><\/p>\n<p>* Banks, traders see weak rand outlook<\/p>\n<p><span><\/span><\/p>\n<p>JOHANNESBURG, April 13  (Reuters) &#8211; South Africa&#8217;s rand slid<br \/>\nagainst the dollar on Friday as weaker-than-expected Chinese<br \/>\ngross domestic product data hit emerging market sentiment, while<br \/>\nbonds were flat after a holiday-shortened week.<\/p>\n<p><span><\/span><\/p>\n<p>From being the strongest performer against the dollar among<br \/>\n20 emerging market currencies on Thursday, the rand was third<br \/>\nfrom bottom on Friday as investors spooked by renewed global<br \/>\ngrowth worries fled to safe-haven assets.<\/p>\n<p><span><\/span><\/p>\n<p>The rand fell more than 1 percent to a trough of<br \/>\n7.9510\/dollar before coming back slightly to 7.94 by 1602 GMT,<br \/>\ndown 0.95 percent on the day.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;When that Chinese GDP data came out and it was softer than<br \/>\nmarkets expected we saw quite a fair bounce higher on<br \/>\ndollar\/rand. Pretty much through the day it&#8217;s been the rand&#8217;s<br \/>\nreaction to how the offshore market has factored that data,&#8221;<br \/>\nsaid Sean McCalgan, a market analyst at ETM.<\/p>\n<p><span><\/span><\/p>\n<p>Thirty percent of South African exports are to Asia, making<br \/>\nthe rand especially vulnerable to signs of weakening in the<br \/>\nChinese economy.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Most of the local banks and traders are still holding a<br \/>\nweaker rand outlook,&#8221; McCalgan added.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Weak China GDP weighs on sentiment * Bonds mixed, market interest lukewarm * Banks, traders see weak rand outlook JOHANNESBURG, April 13 (Reuters) &#8211; South Africa&#8217;s rand slid against the dollar on Friday as weaker-than-expected Chinese gross domestic product data hit emerging market sentiment, while bonds were flat after a holiday-shortened week. From being [&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-9911","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\/9911","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=9911"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9911\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}