https://www.engineeringnews.co.za

Trade tensions hold rand down

Trade tensions hold rand down

Photo by Reuters

14th May 2019

By: Reuters

  

Font size: - +

South Africa's rand was mostly flat on Tuesday, struggling to bounce back from a flare-up in US-China trade tensions that had dragged the currency down a day earlier.

Fresh tariff war volleys between the world's two biggest economies were also weighing on markets in Asia and Australia, though comments from US President Donald Trump that he expects trade negotiations to be successful aided sentiment.

At 0625 GMT, the rand traded at 14.32 to the dollar, 0.1 percent stronger than Monday's close.

The week's trade tensions have snatched away some of the rand's gains after the ruling African National Congress (ANC) looked set for victory in a parliamentary and provincial election last week.

While the ANC secured a decisive win, international factors have largely eclipsed any impact on the rand's direction.

However, first quarter unemployment figures to be published later on Tuesday could bring a fresh domestic influence to the rand's movements over the course of the day.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ATI Systems
ATI Systems

ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.

VISIT SHOWROOM 
MBE Minerals SA (Pty) Ltd
MBE Minerals SA (Pty) Ltd

Your global lifecycle technology & service partner for materials & minerals processing equipment for coal, iron ore, copper, manganese & other...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

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







301

sq:0.055 1.338s - 122pq - 2rq
Subscribe Now