South African rand weaker, focus on US economic data
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The South African rand weakened in early trade on Thursday, trading at 18.42 against the dollar, about 0.2% weaker than its previous close. Investors are awaiting U.S. economic data readings, including gross domestic product and personal consumption expenditure data, which could provide hints on the future interest rate path of the U.S. economy. Andre Cilliers, currency strategist at TreasuryONE, expects the rand to possibly test the R18.50 mark in the current market conditions. Locally, investors will also be watching South Africa's producer inflation figures for June. South Africa's benchmark 2030 government bond was slightly stronger in early deals, with the yield slipping 0.2 basis point to 9.5%.
#SouthAfricanRand #UsEconomicData #InterestRates #Inflation #GovernmentBond
https://www.cnbcafrica.com/2024/south-african-rand-weaker-focus-on-us-economic-data/
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