https://www.engineeringnews.co.za
Africa|Solutions
Africa|Solutions
africa|solutions

Rand firms as US-China trade truce revives risk appetite

Rand firms as US-China trade truce revives risk appetite

Photo by Creamer Media

3rd December 2018

By: Reuters

  

Font size: - +

South Africa's rand firmed against the dollar in early trade on Monday as investor demand for riskier assets rose after China and the US agreed to a ceasefire in their trade war that has shaken global markets.

At 0605 GMT, the rand traded at 13.7600 per dollar, 0.65% firmer than its New York close on Friday of 13.8500.

The currency hit a session high of 13.6950, after opening at 13.7625 a dollar.

China and the United States agreed to halt additional tariffs in a deal that keeps their trade war from escalating as the two sides try again to bridge their differences with fresh talks aimed at reaching an agreement within 90 days.

"Investors, who had been spooked by the trade wars, are certainly relieved," Bianca Botes, treasury manager at Peregrine Treasury Solutions, said in a note.

South Africa-focused investors are waiting for the release of third-quarter GDP numbers on Tuesday and current account figures for the three months to September on Thursday.

In fixed income, the yield on the benchmark government bond due in 2026 was down 4 basis points at 8.9%.

Edited by Reuters

Comments

Latest News

Anglo American CE Duncan Wanblad.
Anglo helping to restore Amazon-like rainforest near Brazil iron-ore mine
Updated 2 hours 57 minutes ago By: Martin Creamer
Image of Icasa chairperson Councillor Mothibi Ramusi
Icasa officially appoints new chairperson
22nd April 2024 By: Natasha Odendaal

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Rittal
Rittal

Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.076 0.132s - 161pq - 2rq
Subscribe Now