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The rand firmed modestly on Friday as the dollar paused its rally, with South Africa recording a seventh consecutive trade surplus of nearly R6 billion in August. Bonds rallied and stocks rose 1.1%, following world markets higher after weak US consumer spending data.
A stronger rand lowers the local-currency cost of imported feed inputs for South African buyers, while the dollar's pause reduces pressure on emerging-market currencies that affects import costs.
moneyweb.co.zaMfuneko Toyana, TJ Strydom, ReutersSep 29, 2017Not enough comparable past events yet for a historical read.
After 1,637 past bearish macro events, DXY moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
