# Rand, stocks tumble as Italian turmoil sparks emerging market retreat - Moneyweb

> The rand fell about 1.2% against the dollar to 12.61 on Tuesday as Italian political turmoil triggered a risk-off selloff in emerging-market currencies and stocks. The rand led the EM currency slide, with the rupee and peso also weaker.

- Date: 2018-05-29 · published 2018-05-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/65291-rand-stocks-tumble-as-italian-turmoil-sparks-emerging-market-retreat-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Risk-off EM currency moves tighten financing conditions for South African and other emerging-market buyers of feed inputs, and a stronger dollar tends to weigh on dollar-priced commodities.

## Read by commodity

- DXY: bullish ▲
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2021-06-21 | [The rand goes from best-performing to worst-performing emerging market currency - Moneyweb](https://feedsoft.ai/events/46874-the-rand-goes-from-best-performing-to-worst-performing-emerging-market-currency.md) | -1.0% | +0.4% |
| DXY | 2018-06-29 | [Market rout sends African assets from the rand to bonds reeling - Moneyweb](https://feedsoft.ai/events/64817-market-rout-sends-african-assets-from-the-rand-to-bonds-reeling-moneyweb.md) | -1.1% | -0.9% |
| DXY | 2018-05-30 | [Worsening Italian crisis batters stock markets and euro](https://feedsoft.ai/events/65216-worsening-italian-crisis-batters-stock-markets-and-euro.md) | +0.0% | +1.0% |
| DXY | 2022-09-26 | [Bank of England 'will not hesitate' to act as it monitors market turmoil \| Reuters](https://feedsoft.ai/events/39831-bank-of-england-will-not-hesitate-to-act-as-it-monitors-market-turmoil-reuters.md) | +0.2% | +0.6% |
| DXY | 2016-11-24 | [Indian rupee hits record low as emerging market rout intensifies](https://feedsoft.ai/events/74119-indian-rupee-hits-record-low-as-emerging-market-rout-intensifies.md) | -0.3% | +0.7% |

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/rand-stocks-tumble-as-italian-turmoil-sparks-emerging-market-retreat/

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