Topics

Posted 8/28/2023, 12:07:00 PM

South African rand slips on US rate hike concerns

The South African rand weakened in response to higher U.S. Treasury yields and concerns over further U.S. interest rate hikes, as stated by Federal Reserve Chair Jerome Powell, which typically has a negative impact on risk assets.

reuters.com

Relevant topic timeline:

8/21/2023

South African rand weakens ahead of BRICS, CPI

The South African rand weakened ahead of the BRICS summit and monthly inflation figures.

8/22/2023

Dollar eases before Jackson Hole, yen rises amid intervention jitters

The US dollar weakened slightly against major peers as traders awaited a speech from Federal Reserve Chair Jerome Powell, while the yen pulled away from a nine-month low and China's yuan briefly rose following attempts to bolster the currency.

8/22/2023

South African rand lifted by falling U.S. yields as BRICS summit kicks off

The South African rand strengthens against the US dollar as risk appetite returns to global markets due to falling US Treasury yields on the first day of the BRICS summit, although the summit is unlikely to provide significant or sustainable momentum until the bloc adopts implementable policies.

8/23/2023

South African rand extends gains after inflation slows

The South African rand strengthened nearly 2% against the U.S. dollar after July inflation data came in lower than expected and the dollar weakened.

8/30/2023

South African rand falls as dollar finds feet; credit extension slows

The South African rand weakened as the dollar rebounded and credit extension in the country slowed more than expected.

9/4/2023

Dollar eases as risk appetite improves on China's measures By Reuters

The safe-haven dollar weakened as risk sentiment improved due to hopes of China's policy stimulus stabilizing the economy and U.S. jobs data suggesting a potential end to the rate hike cycle by the Federal Reserve.

9/5/2023

South African rand slips as power cuts bite, GDP in focus

The South African rand weakened due to the country experiencing the worst power cuts on record and ahead of the release of second quarter GDP data.

9/14/2023

South African Rand Weakens Following Drop in Mining Output

The South African rand weakened against the dollar after mining figures showed a drop in production, contradicting analysts' predictions of an increase.

9/18/2023

South African Markets Cautious Ahead of Key Interest Rate Decisions

The South African rand remains steady ahead of interest rate announcements, with analysts expecting rates to be kept unchanged but with a hawkish outlook due to concerns of inflation and higher oil prices.

9/18/2023

Stocks Waver as Investors Await Fed Meeting; Li Auto and Arm Holdings Slump

The stock market weakened slightly as investors remain uncertain ahead of the Federal Reserve's meeting this week, with eyes on the tone taken by Federal Reserve Chair Jerome Powell during the post-meeting media conference.

Topics

Posted 8/28/2023, 12:07:00 PM

South African rand slips on US rate hike concerns

reuters.com

Relevant topic timeline:

8/21/2023

South African rand weakens ahead of BRICS, CPI

The South African rand weakened ahead of the BRICS summit and monthly inflation figures.

8/22/2023

Dollar eases before Jackson Hole, yen rises amid intervention jitters

8/22/2023

South African rand lifted by falling U.S. yields as BRICS summit kicks off

8/23/2023

South African rand extends gains after inflation slows

The South African rand strengthened nearly 2% against the U.S. dollar after July inflation data came in lower than expected and the dollar weakened.

8/30/2023

South African rand falls as dollar finds feet; credit extension slows

The South African rand weakened as the dollar rebounded and credit extension in the country slowed more than expected.

9/4/2023

Dollar eases as risk appetite improves on China's measures By Reuters

9/5/2023

South African rand slips as power cuts bite, GDP in focus

The South African rand weakened due to the country experiencing the worst power cuts on record and ahead of the release of second quarter GDP data.

9/14/2023

South African Rand Weakens Following Drop in Mining Output

The South African rand weakened against the dollar after mining figures showed a drop in production, contradicting analysts' predictions of an increase.

9/18/2023

South African Markets Cautious Ahead of Key Interest Rate Decisions

9/18/2023

Stocks Waver as Investors Await Fed Meeting; Li Auto and Arm Holdings Slump