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Rand firms amid US stimulus hopes
July 17, 2012--The rand firmed against the dollar on Tuesday amid hopes the US Federal Reserve will provide more monetary stimulus to the world's biggest economy after a poor retail sales report.
The rand was 0.45% firmer against the greenback at 06:37 GMT, from Monday’s New York close of R8.220, with attention focused on US Federal Reserve Chairperson Ben Bernanke’s testimony to Congress on Tuesday and Wednesday
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Source: FIN24
JSE ends a tad lower in thin trade
July 16, 2012--The JSE ended slightly lower on Monday, tracking the weaker trend on global markets.
Banks and financials however‚ bucked the trend‚ led by FirstRand and RMB Holdings‚ respectively.
At 17:00 local time‚ the JSE All Share [JSE:J203] index was down 0.19% at 33 728.14 points‚ with resources losing 0.53% and gold shares shedding 0.81%‚ but platinum miners were flat (-0.04%).
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Source: FIN24
Rand softer on dollar strength
July 16, 2012--The rand was softer at noon on the back of dollar strength, with all eyes on the US Federal Reserve's Ben Bernanke’s speech on Tuesday, with possible quantitative easing news expected, as well as a local interest rate announcement on Thursday.
At 12:08 the rand was bid at R8.2720 to the dollar from its previous close of R8.2551. It was bid at R10.0727 to the euro from its previous close of R10.1204 and at R12.8331 against sterling from R12.8547 before.
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Source: FIN24
China Q2 GDP lifts JSE
July 13, 2012--The JSE lifted at the opening session on Friday, in line with global markets, after China's second-quarter gross domestic product (GDP) data broadly met market expectations.
At 09:25 local time‚ the JSE All Share [JSE:J203] index was up 0.49% at 33‚555.55 points‚ with resources gaining 0.71%‚ gold shares rising 1.35% and platinum counters climbing 0.45%.
Financials lifted 0.32%‚ banking stocks edged up 0.29% and industrials were 0.41% firmer
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Source: FIN24
Rand in ranges during midday trade
July 13, 2012--The rand was in ranges in midday trade seeking direction ahead of the weekend, according to analysts.
The local currency had been under-pressure most of the week but came back a tad in early trading after Chinese gross domestic product (GDP) numbers were within the expected range.
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Source: FIN24
JSE stays weaker at noon
July 12, 2012--The JSE remained on the back foot at noon on Thursday, in line with the weaker trend on global stock markets.
At 12:01 local time‚ the JSE All Share [JSE:J203] index was down 0.39% at 33 593.52 points‚ with resources losing 0.44%. Gold shares were flat (0.05%) while platinum counters shed 0.49%.
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Source: FIN24
Rand remains under pressure at midday
July 12, 2012--Depressed global sentiment continued to affect markets in midday trade on Thursday, keeping the rand in negative territory.
Analysts said the US Federal Reserve minutes suggested a marked economic slowdown in the US‚ which would require another round of easing measures. These minutes made the euro slide deeper into negative territory as there was no firm signal on the timing of these easing measures‚ which kept the dollar on the front-foot versus the euro.
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Source: FIN24
Business confidence recovers
July 11 2012--South Africa's business confidence improved marginally in June from a 10-year low the previous month although big clouds remain on the economic horizon, the South African Chamber of Commerce and Industry (Sacci) said on Wednesday.
The confidence index rose 2.1 points to 94.9 in June, although Sacci said the recovery was overshadowed by the uncertain global environment and South Africa would do well to sort out policy uncertainties weighing on business.
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Source: FIN24
Weaker global shares weigh on JSE
July 11, 2012--The JSE remained weaker at noon on Wednesday, despite European shares improving on earlier lows in the session.
At 12:00 local time‚ the JSE All Share [JSE:J203] index was down 0.69% at 33‚765.34 points‚ with resources losing 0.96%‚ gold shares tumbling 2.06% and platinum counters shedding 0.65%.
Financials gave up 0.62%‚ banking stocks were off 1.05% and industrials were down 0.53%.
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Source: FIN24
Rand consolidates after US data
The rand was slightly stronger against the US dollar on Wednesday afternoon, after the US trade deficit narrowed for a second straight month in May.
According to data released on Wednesday‚ the US deficit in international trade of goods and services decreased 3.8% to $48.68bn from an upwardly revised $50.60bn the month before. The April trade gap was originally reported as $50.06bn.
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Source: FIN24
