# Rand knocked by solid US data, stocks hit new highs - Moneyweb

> The rand weakened about 0.8% to 14.18 per dollar on Tuesday, erasing the previous session's gains, as the dollar rallied after strong US consumer confidence and employment data. Spot gold fell 0.5% to $1,269.69 an ounce, while South Africa posted a narrower September trade surplus of R4 billion that did not reverse the currency's slide.

- Date: 2017-10-31 · published 2017-10-31T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/68772-rand-knocked-by-solid-us-data-stocks-hit-new-highs-moneyweb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the rand cost of dollar-priced imports such as feed ingredients, while gold weakness reduces South African export earnings. The moves are a routine currency wrap with no major new supply or demand driver for feed markets.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- moneyweb.co.za: https://www.moneyweb.co.za/news-fast-news/rand-knocked-by-solid-us-data-stocks-hit-new-highs/

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