# South African rand gains after dovish Fed talk, central bank data in sight - Markets - Business Recorder

> The rand gained in early trade on Wednesday to 18.53 against the dollar after dovish Federal Reserve commentary weighed on the dollar. South African M3 money supply growth slowed to 6.08% in October and the central bank was to release its Financial Stability Review.

- Date: 2023-11-29 · published 2023-11-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/33450-south-african-rand-gains-after-dovish-fed-talk-central-bank-data-in-sight
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Dovish Fed signals lower the dollar and support emerging market currencies, which lowers the local cost of imported feed for South African buyers.

## Read by commodity

- DXY: bearish ▼
- USDZAR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-06-28 | [South African rand gains as dollar dips - Markets - Business Recorder](https://feedsoft.ai/events/41263-south-african-rand-gains-as-dollar-dips-markets-business-recorder.md) | +2.0% | +2.2% |
| DXY | 2022-05-27 | [South African rand firms as dollar sinks to a month low - Markets - Business Recorder](https://feedsoft.ai/events/41694-south-african-rand-firms-as-dollar-sinks-to-a-month-low-markets-business.md) | -0.5% | +1.2% |
| DXY | 2020-06-08 | [Gold gains as investors bet on dovish signals from Fed - Markets - Business Recorder](https://feedsoft.ai/events/52529-gold-gains-as-investors-bet-on-dovish-signals-from-fed-markets-business-recorder.md) | +0.7% | +0.4% |
| DXY | 2022-11-24 | [Canadian dollar steadies as investors cheer Fed’s dovish signal - Markets - Business Recorder](https://feedsoft.ai/events/38909-canadian-dollar-steadies-as-investors-cheer-fed-s-dovish-signal-markets.md) | -1.4% | -1.2% |
| DXY | 2021-03-18 | [Gold gains after Fed maintains easy monetary policy stance - Markets - Business Recorder](https://feedsoft.ai/events/48016-gold-gains-after-fed-maintains-easy-monetary-policy-stance-markets-business.md) | +0.4% | -0.3% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40275794

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.