{"id":967345,"date":"2024-05-27T18:00:57","date_gmt":"2024-05-27T18:00:57","guid":{"rendered":"http:\/\/localhost:8888\/dm-simulator-v2\/?p=967345"},"modified":"2024-05-27T18:00:57","modified_gmt":"2024-05-27T18:00:57","slug":"rand-gains-ahead-of-election-rate-decision","status":"publish","type":"post","link":"https:\/\/elections.sabc.co.za\/elections2024\/rand-gains-ahead-of-election-rate-decision\/","title":{"rendered":"Rand gains ahead of election, rate decision"},"content":{"rendered":"<p><span class=\"rt-reading-time\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\">2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span><\/p>\n<p class=\"tr-story-p1\">The Rand was stronger on Monday, supported by a weaker dollar, ahead of a week headlined by the national election and featuring an interest rate decision.<\/p>\n<p>At 1430 GMT, the rand traded at 18.3300 against the dollar, about 0.5% stronger than its previous close.<\/p>\n<p>The dollar\u00a0last traded around 0.16% weaker against a basket of global currencies.<\/p>\n<p>\u201cThe USD-ZAR is now, by and large, tracking broader USD moves,\u201d said Danny Greeff, co-head of Africa at ETM Analytics.<\/p>\n<p>Global markets await US inflation data this week which could give hints on the interest rate path of the world\u2019s biggest economy.<\/p>\n<p>The risk-sensitive rand, like other emerging market currencies, often takes cues from global drivers, such as US economic data.<\/p>\n<p>South Africans will vote in\u00a0national and provincial elections\u00a0on Wednesday. Polls suggest the governing African National Congress could\u00a0lose its parliamentary majority\u00a0for the first time since the end of apartheid in 1994.<\/p>\n<p>On Thursday, the South African Reserve Bank (SARB) will announce its latest monetary policy decision, a day after the election.<\/p>\n<p>\u201cThere is still plenty of scope for volatility through the second half of the week, as the market will need to navigate a SARB policy update and digest exit polls closer to the weekend,\u201d Greeff said.<\/p>\n<p>On the stock market, both the blue-chip Top-40 and the broader all-share\u00a0indexes were down almost 0.3%.<\/p>\n<p>South Africa\u2019s benchmark 2030 government bond was weaker, with the yield up 2.5 basis points to 10.560%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reading Time: 2 minutes The Rand was stronger on Monday, supported by a weaker dollar, ahead of a week headlined by the national election and featuring an interest rate decision. At 1430 GMT, the rand traded at 18.3300 against the dollar, about 0.5% stronger than its previous close. The dollar\u00a0last traded around 0.16% weaker against [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":967346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1895],"tags":[2726,2727],"class_list":["post-967345","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-rand-gains-ahead-of-election","tag-usd-zar"],"_links":{"self":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/posts\/967345","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/comments?post=967345"}],"version-history":[{"count":0,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/posts\/967345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/media\/967346"}],"wp:attachment":[{"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/media?parent=967345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/categories?post=967345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elections.sabc.co.za\/elections2024\/wp-json\/wp\/v2\/tags?post=967345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}