JOHANNESBURG - The local currency continued to benefit from some positive sentiment during the early stages of this week, trending around levels previously observed in early August according to NKC Research.
The rand continues to reflect global risk sentiment, with developments regarding Sino-US trade talks in particular driving volatility. External developments aside, domestic data releases this week hold some downside risk. More specifically, today will see the release of manufacturing figures for July, with the latter no longer going to enjoy favourable base effects given the dismal Q1 showing. In addition, recent data releases suggest that Wednesday’s business confidence index will not make for pleasant reading. At the close of local trade, the rand quoted 0.34 percent stronger at R14.73/$, after trading in range of R14.67/$ - R14.81/$. The rand traded flat overnight. Expected range today R14.60/$ - R14.95/$.
South African bourse