Markets LIVE: Rand gains by almost 1% against dollar in early trade Tue, 18 Jun 2019 11:15:12 +0200
The local recurrence strengthened against the dollar on Tuesday morning to trade at R14.67 to the greenback at 11:00.
Oil prices rose again in reaction to geopolitical tension, building on a surge sparked by suspected attacks on two tankers in the Gulf of Oman.
Asian markets have been weaker for a second successive day as the Nikkei retreated 0.46%, whilst the Shanghai composite was 0.15% lower on the day.
Global equity markets took a breather on Wednesday after a seven-day winning streak.
Stock markets have mostly retreated after a strong run over several sessions as attention returned to US-China trade tensions, dealers said.
The day's range was between R14.78 and R14.88.
TreasuryONE said earlier that the rand had lost all of its gains and opened far weaker on Thursday morning while Peregrine Treasury Solutions's Bianca Botes said that US President Donald Trump was fuelling currency jitters yet again.
The rand has recovered by almost 3% after it plunged lower last week due to a public spat around the mandate of the SA Reserve Bank.
The rand closed at R14.8068/$ on Wednesday.
Global equity markets have continued to rally on Tuesday as the Bank of China stepped in to provide liquidity in the Chinese market.
After moving sideways for the past four months, Vodacom has now broken out to the upside and still has more upside to come.
With debt-laden state-owned companies and political infighting weighing on the rand, the notoriously volatile lira appears a little more attractive in comparison.
World Equity markets have provided yet another strong performance on Monday as the risk on trade gathers momentum.
US stocks joined a global rally in equities after President Donald Trump suspended plans for tariffs on Mexico.
The day's range was between R14.65 and R14.82.
Stock markets have risen, building on strong pre-weekend gains, after weak US jobs data fanned expectations the Federal Reserve will cut interest rates next month.
Gold is finally gaining the traction needed to boost prices to a level not seen since 2013 as concern mounts over increased trade war tensions and the global growth outlook.
The rand strengthened by more than a percent on Monday and closed at R14.78/$, having opened at R14.90.
Stocks closed the week in the black as key economic data was largely ignored by the market
President Cyril Ramaphosa should be very concerned that his own reassurances regarding SARB's mandate had hardly any impact on the currency markets, says an analyst.