File image: IOL

Solid Chinese credit growth data for August and surprisingly disappointing US producer inflation figures for August supported the rand’s strength, but traders were also cautious ahead of tomorrow’s eurozone monetary policy announcement and the release US consumer inflation data. 

At the close of local trade, the rand quoted 0.4 percent stronger at R15.02/$, after trading in the range of R14.98/$ - R15.17/$. The rand traded slightly stronger overnight. Expected range today R14.75/$ - R15.15/$.

South African bourse

The JSE All Share (-0.4 percent) ended lower yesterday dragged by losses in large general retail (-1.6 percent) and industrial (-1%) shares. In the overall emerging market sphere, the MSCI Emerging Market Index (+0.1 percent) traded higher. In local news, MTN (-2.8 percent) shares remained tilted to the downside after Nigeria’s central bank and the attorney general accused the telecommunications giant of illegally repatriating funds and failing to pay the back taxes.

Markets

Get the latest market update and top stories from our newsrooms across South Africa, Africa and the world.

The latest Forex news is on hand to help you.

Get the Rand to Dollar rate, Rand to Euro rate and the Rand to Pound rate now.

We also have up to date commodity statistics. The World market news is at your fingertips and the most recent financial news is here too.

Watch the market update below:



Like Business Report on Facebook by clicking here or follow us on Twitter @Busrep.

You can also follow the Business Report on Instagram here

- BUSINESS REPORT ONLINE