# MARKET WRAP: Rand falls as China property situation worsens

> The rand weakened against major currencies as another Chinese property developer, Modern Land, defaulted on an overseas debt obligation. Metal prices fell on fears of slowing Chinese demand, and the JSE gained on strong US earnings. The rand traded at about R14.84 per dollar.

- Date: 2021-10-26 · published 2021-10-26T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/44850-market-wrap-rand-falls-as-china-property-situation-worsens
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Concern over Chinese property defaults points to weaker Chinese demand for commodities and a softer rand. A weaker rand raises the local-currency cost of imported feed ingredients for South African buyers.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- businessday.co.za: https://www.businessday.co.za/bd/markets/2021-10-26-market-wrap-rand-falls-as-china-property-situation-worsens/

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