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The rand rose alongside the Chinese yuan and stock markets, with gains building on expectations of further lockdown relaxation in South Africa. Investec sees further rand gains before month-end, though the South African Reserve Bank's rate decision on Thursday is a risk.
A firmer rand lowers South African feed import costs, but the report is currency commentary without a supply or demand change for grains or feed.
poundsterlinglive.comJames SkinnerSep 15, 2020Not enough comparable past events yet for a historical read.
After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% 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.
