Markets WRAP: Rand closes at R14.37/$, averaging between R14.28 and R14.44 Mon, 12 Nov 2018 17:11:41 +0200
The rand was trading at Friday's weaker levels on the back of a firmer dollar.
An expected seasonal dollar-liquidity crunch means the outlook for the rand is anything but merry as the year draws to a close.
Indian equities dropped, reversing earlier gains, as a plan by major oil producers to cut supply to boost the fuel’s price weighed on sentiment.
European stocks opened higher, with London up 1.0% as rallying oil prices lifted shares across the commodities sector and as a sliding pound boosted exporters.
Oil has climbed after a record run of losses as Saudi Arabia said it will reduce crude sales in December and speculation rose that OPEC and its allies will cut output next year.
Emerging-market stocks and currencies retreated after the Federal Reserve indicated it will keep raising rates, sending the US dollar higher and damping a post-midterm rally.
Tokyo stocks opened lower on Monday tracking falls on Wall Street last week amid lingering worries over global economic growth.
Falling oil prices are fast becoming a catalyst for emerging markets.
The rand ended the day almost a percent weaker at R14.27 to the greenback.
Global equities sank deeper into the red following dour economic news from China while a slump in oil prices deepened.
The JSE closed weaker along with other global markets on Friday as fears were sparked due to concerns over China and the US Fed.
US equity-index futures fell for a second day as crude oil’s slide into a bear market and concerns over the health of China’s economy weighed on global stocks.
Brent crude oil sank Friday under $70 per barrel before a weekend meeting of major oil producing nations in Abu Dhabi.
European stocks have dropped at the open as a midweek rally faded further, with investors focusing on the US interest rate outlook and falling oil prices heading into the weekend.
Hong Kong shares have sunk in the morning session after the Federal Reserve hinted it would stick with its programme of interest rate hikes.
Tokyo's benchmark Nikkei index has lost more than 1.0% as investors locked in profits following the previous day's rally.
Asian markets have turned lower as investors took their foot off the pedal at the end of a broadly positive week.
Oil’s set for its longest stretch of declines on record after entering a bear market, with investors awaiting a weekend meeting of OPEC and its allies to discuss output strategy.
JSE-listed heavyweights dragged the All-Share index as profit taking kicked in following the rallies recorded recently.
A stock markets rally has waned with eurozone shares hit as the European Union warned of slowing growth across the single currency bloc.