The South African (SA) Rand was little changed in early trade on Monday ahead of the release of a local manufacturing Purchasing Managers’ Index (PMI) and vehicle sales data for October.
The traded at 16.6965 against the Dollar, a whisker away from its previous close.
An Absa PMI survey is set to be released and will shed light on manufacturing conditions in Africa’s largest economy.
SA manufacturing sentiment improved in September after three months of contraction, helped by a rebound in new orders.
Vehicle sales is due, giving a snapshot of consumer demand for big-ticket items.
Nedbank economists said in a research note that they expect car sales growth to have moderated to 11.2% from 12.7% in September, reflecting the rise in fuel prices and interest rates.
SA’s benchmark 2035 government bond was flat in early deals, with the yield at 8.59%.
–Reuters–
