The South African rand showed little movement in early trade on Monday. Local unemployment figures are expected to be the highlight of this week’s economic data releases.
At exactly 07:07 GMT, the rand was trading at 17.5850 to the dollar, almost unchanged from Friday’s closing level of 17.5875. The currency saw significant volatility last week as global financial markets reacted to Donald Trump’s U.S. election win and the Federal Reserve’s latest monetary policy decision.
However, analysts suggest that local factors may take centre stage this week. Statistics South Africa is expected to release third-quarter unemployment figures on Tuesday, while September’s manufacturing output is also due that day.
September’s mining production numbers will be released on Thursday. Meanwhile, the benchmark 2030 government bond was slightly weaker in early trading, with the yield up by one basis point to 9.18%.
