{"id":12110,"date":"2021-06-14T17:16:04","date_gmt":"2021-06-14T17:16:04","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=12110"},"modified":"2021-06-14T16:53:26","modified_gmt":"2021-06-14T16:53:26","slug":"rand-retreats-dragged-by-local-factors","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors","title":{"rendered":"Rand retreats, dragged by local factors"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and an unfolding third wave of Covid-19 infections outweighed reprieve offered by better-than-expected GDP figures, according to NKC Research.<\/p>\n

With regard to the broader backdrop, we maintain our dollar bearish stance but recognise that the window for the US currency to weaken substantially has shortened amid the sideways price action over Q2.<\/p>\n

Even so, global industrial activity is likely to stay strong through H2, presenting scope for the greenback to break lower. The broad nominal dollar is close to the lows in early 2018 and it\u2019s evident that there is technical support around these levels.<\/p>\n

A more macro-based support is FX-strength aversion in major blocs such as the euro area and China, with the expectation that the Fed will pivot towards policy normalisation sooner.<\/p>\n

At the close of local trade, the rand quoted 0.72 percent weaker at R13.68\/$, after trading in range of R13.53\/$ to R13.70\/$.<\/p>\n

South African bourse<\/b><\/p>\n

The JSE All Share (+0.27 percent) ended in positive territory on Friday, thanks to gains in large resources (+1.12 percent) stocks. In the overall emerging market (EM) sphere, the MSCI Emerging Market Index (0.23 percent) traded slightly higher. EM equities are often seen as a relative inflation hedge, particularly when inflation is driven by rising commodity prices. However, this is less likely to be the case these days as EM equities are no longer a pure play on the commodity cycle in aggregate.<\/p>\n

Brent crude oil<\/b><\/p>\n

The Brent oil price rose to a fresh multiyear high at the end of last week \u2013 banking its third straight weekly gain \u2013 thanks to rising vaccination rates across the globe and an improved outlook for fuel demand. At the close of local trade, benchmark Brent crude futures quoted 0.47 percent higher at $72.77pb.<\/p>\n

BUSINESS REPORT ONLINE<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and an unfolding third wave of Covid-19 infections outweighed reprieve offered by better-than-expected GDP figures, according to NKC Research. With regard to the broader backdrop, we maintain our dollar bearish stance but recognise […]<\/p>\n","protected":false},"author":84,"featured_media":12109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-12110","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nRand retreats, dragged by local factors - South Africa<\/title>\n<meta name=\"description\" content=\"The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and a ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rand retreats, dragged by local factors\" \/>\n<meta property=\"og:description\" content=\"The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and a ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-14T17:16:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"405\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Rand retreats, dragged by local factors\",\"datePublished\":\"2021-06-14T17:16:04+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors\"},\"wordCount\":312,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors\",\"name\":\"Rand retreats, dragged by local factors - South Africa\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg\",\"datePublished\":\"2021-06-14T17:16:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and a ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg\",\"width\":720,\"height\":405,\"caption\":\"Rand retreats, dragged by local factors\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/south-africa\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Rand retreats, dragged by local factors\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#website\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/\",\"name\":\"South Africa\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Rand retreats, dragged by local factors - South Africa","description":"The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and a ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors","og_locale":"en_US","og_type":"article","og_title":"Rand retreats, dragged by local factors","og_description":"The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and a ...","og_url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors","og_site_name":"South Africa","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2021-06-14T17:16:04+00:00","og_image":[{"width":720,"height":405,"url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Rand retreats, dragged by local factors","datePublished":"2021-06-14T17:16:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors"},"wordCount":312,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg","keywords":["Africa Press","Africa Press-South-Africa","South-Africa"],"articleSection":["all news","economy","homepage-english"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors","url":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors","name":"Rand retreats, dragged by local factors - South Africa","isPartOf":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg","datePublished":"2021-06-14T17:16:04+00:00","author":{"@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"The rand was heading towards its first weekly decline in four weeks as supply-side challenges \u2013 power generation \u2013 and a ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#primaryimage","url":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg","contentUrl":"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/06\/img-60c78961e227e.jpg","width":720,"height":405,"caption":"Rand retreats, dragged by local factors"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-retreats-dragged-by-local-factors#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/south-africa\/"},{"@type":"ListItem","position":2,"name":"Rand retreats, dragged by local factors"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/south-africa\/#website","url":"https:\/\/www.africa-press.net\/south-africa\/","name":"South Africa","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/south-africa\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/12110","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/comments?post=12110"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/posts\/12110\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media\/12109"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/media?parent=12110"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/categories?post=12110"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/south-africa\/wp-json\/wp\/v2\/tags?post=12110"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}