# Stocks, rand still under pressure as investors fear higher US rates, SA power woes

> The rand and South African stocks fell as investors priced in higher US interest rates and a stronger dollar, with the rand dropping to about R18.24 per dollar. Ongoing power cuts, with load shedding at stage 6, added to pressure on the currency.

- Date: 2023-02-22 · published 2023-02-22T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/37618-stocks-rand-still-under-pressure-as-investors-fear-higher-us-rates-sa-power-woes
- 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

Expectations of a firmer dollar and a weaker rand raise import costs for South African feed buyers. Power outages also strain domestic processing and logistics.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2023-06-23 | [Stocks fall, dollar up as investors weigh more rate hikes \| Reuters](https://feedsoft.ai/events/35674-stocks-fall-dollar-up-as-investors-weigh-more-rate-hikes-reuters.md) | +0.6% | -0.7% |
| DXY | 2023-02-27 | [Asian FX, stocks pressured by higher US rates outlook - Markets - Business Recorder](https://feedsoft.ai/events/37599-asian-fx-stocks-pressured-by-higher-us-rates-outlook-markets-business-recorder.md) | -0.7% | -0.9% |
| DXY | 2023-05-26 | [C$ posts weekly decline as investors eye higher U.S. rates \| Financial Post](https://feedsoft.ai/events/36184-c-posts-weekly-decline-as-investors-eye-higher-u-s-rates-financial-post.md) | -0.7% | -1.5% |
| DXY | 2022-06-30 | [Euro under pressure as inflation fears send investors to dollar haven - Markets - Business Recorder](https://feedsoft.ai/events/41161-euro-under-pressure-as-inflation-fears-send-investors-to-dollar-haven-markets.md) | +1.5% | +1.0% |
| DXY | 2017-01-19 | [Gold under pressure as Fed's Yellen backs gradual rate hikes \| Reuters](https://feedsoft.ai/events/72903-gold-under-pressure-as-fed-s-yellen-backs-gradual-rate-hikes-reuters.md) | -0.4% | -1.5% |

## Sources

- iol.co.za: https://iol.co.za/business-report/markets/commodities/2023-02-22-stocks-rand-still-under-pressure-as-investors-fear-higher-us-rates-sa-power-woes/

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