Rand steady, could soften on trade data

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NewRandMoney Reuters.

Johannesburg - South Africa's rand was flat against the US dollar, with the risk of weakening during the week if domestic trade data shows a widening deficit.

At 08:54 SA time the local unit traded at 10.5140 versus the greenback, a touch softer than Friday's close at 10.5105.

In fixed income, yields edged higher, with the 2026 benchmark adding 1.5 basis points to 8.205 percent and the 2015 paper inching up 1 basis points to 6.65 percent.

In addition to the trade data due out on Thursday, the market will also scrutinise unemployment, credit and producer inflation and monthly budget data numbers this week for pointers on the state of the economy, which has been beset by strikes.

On Monday the Numsa union said there had been some development in talks with employers over a wage offer that could end a walkout in the metal and engineering sector. - Reuters

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