{"id":3084,"date":"2021-01-25T19:00:42","date_gmt":"2021-01-25T19:00:42","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=3084"},"modified":"2021-01-25T17:10:00","modified_gmt":"2021-01-25T17:10:00","slug":"rand-trades-steady-overnight","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-trades-steady-overnight","title":{"rendered":"Rand trades steady overnight"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong><a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a> &#8211; <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a>. <\/strong><\/span>JOHANNESBURG &#8211; The South African currency traded on the back foot in Friday\u2019s session as global risk sentiment soured according to NKC Research.<\/p>\n<p>Mindful of the elevated near-term risks to the baseline, the rand is expected to benefit from an external backdrop and policy-led correction of the dollar.<\/p>\n<p>Near-terms risks may stem from negative demand surprises in advanced economies, although authorities remain committed to strengthen stimulus response, which will support the rand\u2019s carry allure.<\/p>\n<p>In this regard, the ECB may underestimate the near-term downside risks to activity, but at this stage there is little more monetary policy could do to offset the drag.<\/p>\n<p>After Thursday\u2019s announcement, the ECB communication implies a soft cap on regional bond yields and spreads among sectors and jurisdictions.<\/p>\n<p>The ECB\u2019s focus appears to be on low and broadly stable real yields, while rising nominal yields on back of higher inflation expectations will likely elicit little response.<\/p>\n<p>At the close of local trade, the rand quoted 0.90 percent weaker at R15.07\/$, after trading in range of R14.90\/$ &#8211; R15.15\/$. The rand traded steady overnight. Expected range today R14.90\/$ &#8211; R15.20\/$.<\/p>\n<p><b>South African bourse<\/b><\/p>\n<p>The JSE All Share (+0.10 percent) inched higher during the previous trading session, as gains in large resources (+0.71 percent) stocks offset losses in major financial (-0.48 percent) shares. In the overall emerging market sphere, the MSCI Emerging Market Index (+1.61 percent) strengthened.<\/p>\n<p><b>Brent crude oil<\/b><\/p>\n<p>The Brent oil price fell at the end of last week amid concerns of tighter economic restrictions in China and after EU leaders imposed travel curbs within the bloc. At the close of local trade, benchmark Brent crude futures quoted 2.29 percent lower at $54.65pb. Crude prices traded in a narrow band during Asian trade this morning.<\/p>\n<p><b>BUSINESS REPORT<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. JOHANNESBURG &#8211; The South African currency traded on the back foot in Friday\u2019s session as global risk sentiment soured according to NKC Research. Mindful of the elevated near-term risks to the baseline, the rand is expected to benefit from an external backdrop and policy-led correction of the dollar. Near-terms risks may stem [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":3083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-3084","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":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Rand trades steady overnight - South Africa<\/title>\n<meta name=\"description\" content=\"JOHANNESBURG - The South African currency traded on the back foot in Friday\u2019s session as global risk sentiment soured ac ...\" \/>\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-trades-steady-overnight\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rand trades steady overnight\" \/>\n<meta property=\"og:description\" content=\"JOHANNESBURG - 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