The South African (SA) Rand extended the previous session’s losses in early trade this Tuesday as higher oil prices weighed on sentiment, while investors waited for domestic economic data for clues on the health of Africa’s largest economy.
At 0625 GMT the rand traded at 16.43 against the Dollar , about 0.1% softer than its previous close.
The United States Dollar was steady against a basket of currencies, while oil prices rose for a second successive session amid lingering concern over Middle East supply disruption.
The SA Reserve Bank is expected to release its quarterly bulletin at around, offering insight into second-quarter foreign direct investment and portfolio flows.
The report will also offer a closer look at household finances, which Nedbank economists said appear to have remained resilient despite persistent concerns about the ongoing energy shock.
Statistics SA is due to release formal sector employment data, excluding agriculture.
Sa’s benchmark 2035 government bond strengthened in early deals, as the yield fell 2.5 basis points to 8.89%.
–Reuters–
