# Rand on the frontfoot, stocks dip on lower metal prices - Moneyweb

> The rand held near a five-week high after South Africa avoided a double downgrade of its local-currency debt. Traders said the currency was pricing in a likely victory for Cyril Ramaphosa in the ANC leadership race. Stocks fell on lower metal prices.

- Date: 2017-11-28 · published 2017-11-28T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/68285-rand-on-the-frontfoot-stocks-dip-on-lower-metal-prices-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

Political expectations for a market-friendly ANC leader are supporting the rand, which lowers the local cost of dollar-priced imports. The effect on feed prices is modest and depends on the leadership outcome.

## Read by commodity

- USDZAR: bearish ▼

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news/economy/rand-on-the-frontfoot-stocks-dip-on-lower-metal-prices/

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