Andre Botha, Senior Dealer at TreasuryONE said the rand is expected to stay within tight ranges ahead of the long weekend.

By 10:02, the rand was trading at R13.90 to the greenback.

“The rand closed the week off below the R14.00 handle, as the US dollar lost some ground on Friday evening. Poor US Consumer Sentiment data coupled with positive Chinese trade data has helped EM currencies against the US dollar.

"We expect most of the market moves to be down to international events especially centred around US and China developments. The Chinese trade number subdued a bit of the world growth worries and this has also increased the risk appetite of market players and we have seen a lot of yield-seeking behaviour from the market and this bodes well for the rand.

"However, we have seen commodity prices on the back foot, which normally coincides with a bit of EM weakness.

"This opens up the door for two-way risks in the rand, but with two opposing forces, it normally makes for a range-bound rand. Coupled with the short week, we expect the rand to stay within tight ranges as we head into the long weekend.”

Stocks advance as profits, China data ease worries

Adam Haigh, Bloomberg

Stocks in Asia kicked off the week on a mostly positive note after earnings and Chinese economic data eased concerns about a slowdown in global growth, leaving the region’s shares on course for a fresh six-month high.

Japanese shares posted the largest gains, with equities in Hong Kong, China and South Korea also stronger, even after earlier gains were trimmed. European futures edged higher. Bullish sentiment gripped Asia after the S&P 500 Index Friday came within 1% of a new all-time high.

Australian bonds fell, tracking the drop in Treasuries prior to the weekend. The dollar steadied with Treasuries and oil started the week with a modest decline.

With Chinese trade and lending data showing signs of improvement for the world’s second-biggest economy, investors are now looking for the earnings season to confirm the resilience of corporate America in the face of numerous headwinds. JPMorgan Chase & Co. posted strong first-quarter earnings.

Up next are Goldman Sachs Group, Citigroup and Bank of America. There’s also signs the US and China are getting closer to a trade deal, with Treasury Secretary Steven Mnuchin saying enforcement mechanisms could work “in both directions.”

“The environment of easier financial conditions is beginning to have an impact on the broader economy,” Binay Chandgothia, fund manager at Principal Global Investors, told Bloomberg TV. “If that is the case and growth does pick up, you’ll see an uptick in analyst expectations and earnings as well, which should help continue the rally.”

Meanwhile, President Donald Trump renewed his attack on the Federal Reserve over the weekend, saying the stock market would be “5 000 to 10 000” points higher had it not been for the actions of the US central bank.

Elsewhere, finance chiefs and central banks stand ready to "act promptly" to shore up growth amid a multitude of downside risks, according to a communique from the International Monetary Fund’s main advisory panel.

Oil started the week on a softer note, after capping its sixth straight week of gains Friday, with a report showing increased US oil-rig activity taking some of the heat out of the rally.

Activists push SA pension funds to tally climate costs

Pension funds in South Africa have a legal obligation to account for the financial effects of climate change on their investments, according to two groups lobbying money managers to pay closer attention to the issue.

Shareholder activists Just Share and environmental law organiSation ClientEarth have written to more than 50 funds in South Africa about their duty to savers. The local industry oversees about R4.2trn in retirement investments, according to the two groups.