# South African Rand Steadies as Global Mood Improves but Recovery May a Distant Prospect

> The rand steadied and rose on Tuesday in a risk-on market as stock markets and commodity prices rebounded on signs that coronavirus infections were slowing in hotspots. Speculation about a possible fourth US fiscal support package also supported sentiment.

- Date: 2020-03-31 · published 2020-03-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/54413-south-african-rand-steadies-as-global-mood-improves-but-recovery-may-a-distant
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The firmer rand eases near-term import cost pressure, though analysts expect a sustained recovery to take time given the domestic outbreak.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- poundsterlinglive.com: https://www.poundsterlinglive.com/zar/13046-south-african-rand-steadies-as-global-mood-improves-but-recovery-may-a-distant-prospect

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