{"id":4231,"date":"2021-02-10T18:37:07","date_gmt":"2021-02-10T18:37:07","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=4231"},"modified":"2021-02-10T17:20:20","modified_gmt":"2021-02-10T17:20:20","slug":"rand-trades-firmer-against-the-greenback","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/rand-trades-firmer-against-the-greenback","title":{"rendered":"Rand trades firmer against the greenback"},"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 rand was bolstered by US stimulus optimism, which fuelled risk appetite and lifted commodity currencies according to NKC Research.<\/p>\n<p>The greenback traded near a two-week low as demand for riskier assets improved, with traders looking ahead to an expected global economy recovery in 2021.<\/p>\n<p>The recent bout of resilience demonstrated by commodity prices, which partially reflects underlying trade and industrial recovery, supports a favouring of emerging market local-currency bonds \u2013 South African Government Bonds in particular are expected to benefit.<\/p>\n<p>A frail domestic backdrop aside \u2013 including setbacks to the inoculation programme and ongoing power supply disruptions \u2013 the policy-led softening in the US dollar will strengthen the rand\u2019s carry appeal.<\/p>\n<p>At the close of local trade, the rand quoted 0.68 percent stronger at R14.79\/$, after trading in range of R14.76\/$ &#8211; R14.94\/$. The rand traded firmer overnight, reaching its best level since early January. Expected range today R14.60\/$ &#8211; R14.90\/$.<\/p>\n<p><b>South African bourse<\/b><\/p>\n<p>The JSE All Share (+0.16 percent) ended higher yesterday, led by gains in large financial (+0.51 percent) and industrial (+0.64 percent) stocks. In the overall emerging market sphere, the MSCI Emerging Market Index (+0.48 percent) traded higher.<\/p>\n<p>January saw a modest pull back in global equity valuations and they may remain under pressure in the near term. However, we believe that equity returns are ultimately underpinned by a strong earnings recovery. The latter is likely to continue throughout 2021, driven in large part by an ongoing recovery in global trade.<\/p>\n<p><b>Brent crude oil<\/b><\/p>\n<p>The Brent oil price advanced to its highest level in thirteen months yesterday, amid optimism that a recovery in fuel demand will boost energy markets this year. At the close of local trade, benchmark Brent crude futures quoted 0.56 percent lower at $60.22pb. Crude dipped 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 rand was bolstered by US stimulus optimism, which fuelled risk appetite and lifted commodity currencies according to NKC Research. The greenback traded near a two-week low as demand for riskier assets improved, with traders looking ahead to an expected global economy recovery in 2021. The recent bout of resilience [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":4230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,275],"class_list":["post-4231","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 firmer against the greenback - South Africa<\/title>\n<meta name=\"description\" content=\"JOHANNESBURG - The rand was bolstered by US stimulus optimism, which fuelled risk appetite and lifted commodity currenci ...\" \/>\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-firmer-against-the-greenback\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Rand trades firmer against the greenback\" \/>\n<meta property=\"og:description\" content=\"JOHANNESBURG - 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