Rand falls, focus on Trump’s Hong Kong response

In fixed income, the yield on the 10-year government bond was up 2.5 basis points at 8.96%.
Image: Shutterstock

Rand weakened against the dollar early on Friday as investors monitored the latest US response to China tightening its control over the city of Hong Kong.

At 0637 GMT, the rand traded at R17.55 per dollar, 0.18% weaker than its previous close, retreating from a nine-week high of R17.30 touched on Thursday on optimism over recovering global growth.

“The local unit ran out of steam mid-session as US-Sino tensions outweighed positive sentiment,” analysts at NKC African Economics said in a note.

Traders said they expect the content of an address US President Donald Trump to set the course for the local unit. Trump, who has vowed a tough response to China’s move, said he will hold a news conference on the matter on Friday.

Locally, market participants awaited April trade balance figures as well as monthly budget balance numbers due later in the day.

In fixed income, the yield on the 10-year government bond was up 2.5 basis points at 8.96%.

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China is no longer Scared of the USA : If anything the Reverse : The only short term hope the USA has of not being overhauled economically is to nuke them whilst they still have more nukes:
Having lived in the East , there is no question in my mind that the Chinese are a far brighter form of Humanity than the Americans :
Just a matter of time : One Nation is sinking , one is rising .
The East is the Future Power and not too far away.

There is a very interesting long-term east/west wealth cycle of give or take 500 years that has been repeating and repeating throughout history: global power and economic prosperity flows from east to west every 500 or so years literally for the last 6000 years. This move to China as the global super power is nothing more than the cycle reversing back to the east. Look it up on youtube it’s very interesting 🙂

The crazy thing is to see Trump’s response to the rioters in his own country recently! Send in the national guard and army is his solution! but when the police in Hong Kong try to maintain law and stop the destruction of buildings and shops etc… he has a different view??

Double standards! Rioters are rioters. the enforcing of law is needed.
The new laws are also very common in USA, UK and many other democratic countries around the world!

People are just confirming their own bias against different cultures and countries they dont understand!

Can you please just stop commenting on every goddamn micro-movements in the ZAR/USD exchange rate. For c**p sake not every 15 cent move needs an article to speculate on why in the hell it happened.

Thank you for voicing my thoughts exactly, probably the news of a weakening Rand draws in the reader, like me, oh well.

End of comments.

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