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The rand slipped as a risk-off mood dominated trading, driven by Afghanistan-related geopolitical risks, weak Chinese activity and draft Beijing regulations. The rand closed 0.6% weaker at R14.97 to the dollar, and Brent crude was also under pressure from weak demand.
Risk-off flows and weak Chinese demand point to softer energy and commodity prices, while a weaker rand raises the local cost of imported feed.
iol.co.zaBR ReporterAug 18, 2021Not enough comparable past events yet for a historical read.
After 312 past bearish macro events, Crude Oil (Brent) moved a median -1.7% over 5 sessions (38% higher; middle half -5.4% to +2.3%), and -1.7% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
