The South African (SA) Rand edged up in early trading on Monday as investors awaited ​a batch of month-end economic data to ‌assess the state of Africa’s largest economy, while also monitoring anti-immigration protests planned for Tuesday.

The ​Rand traded at 16.42 to the Dollar, about ​0.2% stronger than its previous close.

The Dollar ⁠was flat against a basket of currencies, while oil ​prices rose on Monday following days of tit-for-tat ​strikes by the United States and Iran that underscored the fragility of their interim peace deal and again slowed energy shipping ​through the Strait of Hormuz.

On the domestic ​front, investors will track releases including SA’s money supply, ‌private ⁠sector credit, the Central Bank’s inflation expectations survey, as well as trade balance and budget balance.

However, ETM Analytics said in a note that these ​indicators may ​be overshadowed ⁠by Tuesday’s anti-immigration protests, which it flagged as the main near-term risk.

“Once this risk ​passes and the week progresses, the ​rand should ⁠begin to trade within a range more reflective of global oil prices and broader risk sentiment,” ⁠said ​ETM Analytics.

SA’s benchmark 2035 government ​bond was stronger in early deals, as the yield fell ​1 basis point to 8.175%.

–Reuters–