JOHANNESBURG - The South African currency struggled to gain traction as a lack of local data left the unit vulnerable to souring global risk sentiment according to NKC Research.
Pandemic fears related to the outbreak of the coronavirus reared its head again on Thursday, after a brief recovery in sentiment on Wednesday. At the close of local trade, the rand quoted 0.33 percent weaker at R14.40/$, after trading in range of R14.28/$ - R14.44/$. The rand traded steadier overnight. Expected range today R14.25/$ - R14.50/$.
South African bourse
The JSE All Share (-1.77 percent) plunged in line with international stock markets after the lockdown of a second Chinese city was declared yesterday, sending shivers through the global financial sphere. In local news, Clicks reported a 9.9 percent rise in sales for the 20 Weeks to 12 January 2020. Clicks group Chief Executive, Vikesh Ramsunder said a wide range of promotional offers carried the retailer though a challenging consumer environment. In the overall emerging market sphere, the MSCI Emerging Market Index (-0.99 percent) traded lower.
Brent crude oil