# South African rand firmer as market awaits budget - Markets - Business Recorder

> The rand edged up on June 23 as Trump said the US-China Phase 1 trade deal was intact, after adviser Peter Navarro's comments that it was 'over' were described as taken out of context. Markets also awaited Finance Minister Mboweni's emergency budget, which was expected to show a much wider deficit. The JSE all-share index rose 2.48%.

- Date: 2020-06-23 · published 2020-06-23T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/52908-south-african-rand-firmer-as-market-awaits-budget-markets-business-recorder
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Improved US-China trade confidence supports risk appetite and firmer emerging-market currencies, which lowers the rand cost of imported feed. The budget outcome could still weigh on the rand.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40000373

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