Rand firms as Chinese trade data lifts riskier currencies
(005320.38-:E-003569.93:N-HO:R-SU: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: The Gods of War: Julius Caesar: Bravery can save you, Cowardice can KILL YOU!!
All Whites, including women should watch this. You will be amazed at what Whites were like 2077 years ago! In this video were not only look at a timeless lesson of war, but we also look at what Whites were really like. You will be amazed what White society was like in Europe and how Whites functioned.
White Shop: Communist Safari 1979 Rhodesia Light Infantry T-Shirt
The Rhodesian Light Infantry was an all-White unit.
Video: A Lesson from the Boers: How to get total control of your Nation again!
Secret Societies! This is how the Boers regained control of SA after they lost the 2nd Anglo Boer war. They created a pro-White Secret Society that invented Apartheid and ruled South Africa for 46 years.
