The rand exhibited a relatively stronger tone on Monday morning, after a mixed US nonfarm payrolls report on Friday supported high-yielding emerging-market currencies.The world’s largest economy created 228,000 jobs in November, more than had been expected, but wage growth, which is where the market focus was, disappointed.Markets will have a lot to digest in terms of economic data and events as the week progresses.Locally, October inflation figures and current account figures will feature prominently, before the all-important ANC elective conference begins at the weekend.Deputy President Cyril Ramaphosa and ANC MP Nkosazana Dlamini-Zuma will square up in the race to become the party’s new leader.Globally, the US Federal Reserve is widely expected to increase rates by at least 25 basis points when it concludes it two-day meeting on Wednesday. The markets will monitor the Fed’s language for future policy moves.At 9.41am, the rand was at R13.6497 to the dollar from R13.6874‚ at R16.09...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.