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The rand fell more than 1% to 13.48 per dollar, snapping a six-session winning streak, after President Trump said Washington would impose further tariffs on Chinese goods. Commodity stocks led the decline as precious metals fell globally.
Expanded US tariffs on Chinese goods increase the risk of retaliation against US farm exports and weigh on global demand for commodities.
moneyweb.co.zaMfuneko Toyana, Nomvelo Chalumbira, ReutersJul 11, 2018Not enough comparable past events yet for a historical read.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
