Rand firms as markets welcome upbeat Chinese data
Meanwhile, government bonds found support on Tuesday morning during the weekly bond auction
BL PREMIUM
31 March 2020 – 14:31
The rand was on track to break a three-day losing streak on Tuesday afternoon, with global assets finding support from upbeat Chinese data and hopes that stimulus measures will result in an economic recovery in coming months.
A Chinese purchasing managers’ index for March beat expectations and registered an expansion after a dismal February, raising hopes that other countries will also bounce back from quarantine measures due to Covid-19.
Source: businesslive.co.za