Market News
South African rand steady as investors eye key US data - REUTERS
JOHANNESBURG, Jan 9 (Reuters) - The South African rand was steady in early trade on Friday, as traders look ahead to U.S. labour market data later in the day for indications on the Federal Reserve's policy trajectory.
At 0719 GMT, the rand traded at 16.54 against the dollar , little changed from its previous close of 16.5225.
"On the non-farm payroll, it is forecasted to be lower at 45,000 from 64,000, with the unemployment rate at 4.6%. We are definitely going to see light at the end of the tunnel from the (government) shutdown, but I don't think the numbers will give firm direction," said Adam Phillips, Treasury specialist at Umkhulu Treasury.
