Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
These stocks are up over 10% post earnings. Did you spot the buying opportunity? Our AI did.Read how

South African rand recovers before Yellen due to speak

Published 2017-08-25, 02:26 a/m
© Reuters. South African rand recovers before Yellen due to speak

JOHANNESBURG, Aug 25 - South Africa's rand gained early on Friday, recovering losses from the previous session and remaining within a tight range before a scheduled speech by U.S. Federal Reserve chair Janet Yellen.

* At 0618 GMT, the rand ZAR=D3 traded at 13.1750 to the dollar, up 0.3 percent from its overnight close in New York. It had closed down 0.44 percent on Thursday.

* The rand has found support around 13.20 to the dollar this week with little news to give markets direction.

* Emerging markets are pausing as traders wait for clues on U.S. monetary policy in Yellen's speech on Friday at the Jackson Hole Economic Policy Summit in Wyoming. European Central Bank President Mario Draghi will also speak at the conference.

* In fixed income, the yield for the benchmark bond due in 2026 ZAR186= was unchanged at 8.590 percent.

* South African stocks hit a record high on Thursday, with Ascendis Health Ltd ASCJ.J leading the gainers after flagging higher full-year earnings.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.