The rand lost ground at the weekend following US President Donald Trump's threat to impose more tariffs on China
The rand was mixed against major currencies on Monday afternoon, as investors waited for new catalysts from either the US-China trade talks or the general elections.“With developments at home and external drivers in the form of renewed US-China trade tension seen pulling and tugging at the rand, investors should fasten their seat belts and prepare for a potentially volatile trading week ahead,” FXTM analyst Lukman Otunuga said.
Trump tweeted on Sunday that the US would impose new tariffs on China for $325bn worth of goods, calling into question whether a US-China trade deal would be reached soon, as the market had expected. The threat comes as Chinese delegates plan to travel to Washington this week in the hope of sealing a deal. Chinese officials have confirmed that the talks are expected to take place, although there are signs that there maybe a delay, Bloomberg reported.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rand a little firmer as market eyes US-China trade warThe rand weakened on Sunday after US President Donald Trump threatened to tariffs on Chinese imports, although local focus is on the elections
Read more »
Rand weakens on China manufacturing slipThe rand has see-sawed in a narrow range, with little momentum in either direction, as investors wait for a US Fed policy meeting on Wednesday which is expected to keep lending rates unchanged.
Read more »
Rand firmer after US Fed holds lending ratesWhile the rand was boosted by the decision, its long term outlook remains shaky with recent economic indicators showing sluggish growth in the first quarter following nationwide power cuts and slack business and consumer confidence.
Read more »
Rand weaker after US Federal Reserve holds lending rates, stocks gainThe US Federal Reserve on Wednesday held interest rates steady and signalled little appetite to adjust them any time soon.
Read more »
US-China trade dilemma: how to hold Beijing’s feet to the fireDeal ending trade war could be imminent
Read more »
US must cultivate Central America or lose out to ChinaPanama president-elect warns Trump's America
Read more »
Donald Trump’s promises to hike tariffs trip up global marketsEquities tumble after the US president unexpectedly intensifies pressure on China to reach a trade deal, saying he will increase US tariffs on Chinese goods this week
Read more »
China withholds R7bn Eskom loanChina is so wary of Eskom’s promises about the construction of Medupi and Kusile that it’s still withholding a R7 billion payment out of fear that the power utility might not continue with the construction of the projects.
Read more »
Asian markets plunge as Trump threatens to hike China tariffs | News | World | M&GPresident Trump sent Asian markets plunging on Monday after threatening to hike tariffs on $2000-billion of Chinese goods at the end of the week in a bid to speed up trade talks between the economic superpowers.
Read more »
SAA to launch direct flights to Guangzhou, ChinaProvince of Guangdong is the centre of country’s export-led manufacturing industries from which traders source goods needed in Sub-Saharan Africa
Read more »
Ex-CIA officer pleads guilty to conspiring to spy for ChinaA former CIA officer has pleaded guilty to conspiring to pass U.S. defense and intelligence secrets to China, the Justice Department said on Wednesday, in the third such case in less than a year.
Read more »