South African rand weakens, stocks set to open lower

Date:

JOHANNESBURG  – South Africa’s rand slipped at the start of the week, reversing gains from the previous session, ahead of a slew of economic data in the coming days that could give clues on the health of the economy.

Thank you for reading this post, don't forget to subscribe!

At 0642 GMT, the rand traded at 13.0450 per the dollar, 0.35 percent weaker than its New York close on Friday.

The rand had firmed on Friday as the dollar fell after Federal Reserve Chair Janet Yellen made no reference to U.S. monetary policy in her speech at a central bankers’ meeting.

Focus in the week on July money supply and private sector credit data on Wednesday, as well as producer price inflation figures and trade numbers due on Thursday.

Stocks were set to open lower at 0700 GMT, with the JSE securities exchange’s Top-40 futures index down 0.28 percent.

In fixed income, the yield for the benchmark government bond due in 2026 was up 1 basis point to 8.58 percent.

Reporting by Olivia Kumwenda-Mtambo

Share post:

Subscribe

Popular

More like this
Related

400-level Nasarawa varsity student declared missing after fatal palliative stampede

March 28, 2024. Azonuchechi Chukwu. A 400-level student of the Nasarawa...

Mbah inaugurates ESUT Governing Council

Governor of Enugu State, Dr. Peter Mbah has inaugurated...

Canada-based Nigerian playwright, Oguntokun is dead

Renowned Nigerian playwright and theatre director, Wole Oguntokun, is...

Atiku’s loyalists declare support for Tinubu, Fubara

By Daniel Abia, P/Harcourt Members of the former Rivers State...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading