Rand firms as Chinese trade data lifts riskier currencies
(:E-:N-:R-AZ:C-30:V)
The rand firmed against the dollar early on Tuesday, in line with a rally in riskier currencies as China’s trade data painted a less gloomy picture of the economic fallout from the coronavirus pandemic than markets had feared.
At 0630 GMT, the rand traded at 18.06 per dollar, 0.2% firmer than its previous close.
China’s March exports fell 6.6% from a year earlier, compared with a forecast for a 14% drop and imports fell by less than 1%, compared with a 9.5% drop anticipated by economists.
Analysts, however, expect the rand to remain volatile, with a grim outlook for South Africa’s economy after the country imposed some of the toughest restrictions on the continent to curb the spread of the new coronavirus, including a 5-week lockdown to the end of April that has halted production.
“The world is still concerned about the impact of the Covid-19 outbreak on economic growth, with many countries still enduring some form of lockdown,” said Bianca Botes, executive director at Peregrine Treasury Solutions.
South Africa entered a recession in the final quarter of last year as power cuts by state utility Eskom took a toll on the economy.
Government bonds were weaker, with the yield on the 10-year instrument due in 2030 rising 14 basis points to 10.950%.
Source: https://www.moneyweb.co.za/news/markets/rand-firms-as-chinese-trade-data-lifts-riskier-currencies/
Video: S.Africa: SECESSION: The ONLY HOPE for People: My discussion with a Lawyer
Secession, secession, secession! This is the JET AIRCRAFT to Freedom for People in South Africa. Nothing else has the potential of this concept. Youll understand why I think this is the most awesome thing that anyone in South Africa can do. In this video youll hear a detailed discussion with my attorney who did a lot of legal work on secession along with other attorneys.
Video & Audio: Liberals tried to steal a part of Germany in 2012 for another Liberal State!
We look at the Liberal scam of 2012 to steal the entire province of Thuringia from Germany. I look at the many plans for Liberals to get lands for free from other powers.
S.African Police tried to confiscate 450,000 guns & 60 million rounds of ammo from People
The ANC tried to disarm People in 2004. They tried a massive exercise to steal all our guns and hand our guns in. Some fools did hand in their weapons.