# abokiFX News | Forex Updates

> The rand fell for a second day on Monday to its weakest level in more than a month, as oil prices rose to their highest in over two years and traders worried about slowing Chinese growth. South African breakeven inflation rates rose to levels last seen in June 2019. China is the largest buyer of South African commodity exports.

- Date: 2021-09-27 · published 2021-09-27T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/45357-abokifx-news-forex-updates
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher oil prices and a weaker rand raise South Africa's inflation outlook and import costs for feed and fuel. Slower Chinese demand would weigh on South African commodity export volumes and prices.

## Read by commodity

- BRENT: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2017-07-27 | [FOMC Deflates Dollar Inflates Oil And Gold - ActionForex](https://feedsoft.ai/events/69896-fomc-deflates-dollar-inflates-oil-and-gold-actionforex.md) | +3.4% | +3.8% |
| BRENT | 2026-06-08 | [Rand Note \| Rand Forecast and Analysis](https://feedsoft.ai/events/19100-rand-note-rand-forecast-and-analysis.md) | -8.1% | -25.8% |
| BRENT | 2016-12-12 | [Canadian dollar above 76 cents US as oil surges to 1½-year high \| CBC News](https://feedsoft.ai/events/73711-canadian-dollar-above-76-cents-us-as-oil-surges-to-11-2-year-high-cbc-news.md) | +2.7% | +0.3% |
| BRENT | 2019-07-31 | [Market Report & Analysis for 7/31/2019 Morning Edition - Fuels Market News](https://feedsoft.ai/events/11291-market-report-and-analysis-for-7-31-2019-morning-edition-fuels-market-news.md) | -7.6% | -7.3% |
| BRENT | 2023-05-23 | [ASX falls on stalled US debt ceiling talks, CBA lifts mortgage rates again, NZ's Reserve Bank raises rates for 12th time — as it happened - ABC News](https://feedsoft.ai/events/36209-asx-falls-on-stalled-us-debt-ceiling-talks-cba-lifts-mortgage-rates-again-nz-s.md) | -3.2% | -0.0% |

## Sources

- abokifx.com: https://abokifx.com/news/rand-falling-prey-to-global-worries-fuels-south-africa-inflation-bloomberg?type=market

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