Market News
South African rand steady with domestic GDP figures in focus - REUTERS
JOHANNESBURG, Sept 8 (Reuters) – The South African rand was stable on Monday as markets awaited the release of local gross domestic product (GDP) figures, along with mining, manufacturing and current account data, for clues on the health of Africa’s largest economy.
At 0628 GMT the rand traded at 17.58 against the dollar, roughly 0.2% up on Friday’s close.
Statistics South Africa is set to release second-quarter GDP data at 0930 GMT on Tuesday.
The country eked out quarter-on-quarter growth of 0.1% in the first quarter as contractions in sectors like mining and manufacturing offset a strong performance by agriculture.
Investor focus will shift to mining, manufacturing and current account numbers due on Thursday.
South Africa’s benchmark 2035 government bond was marginally stronger in early deals, as the yield fell 1.5 basis points to 9.55%.
(Reporting by Sfundo Parakozov; Editing by Andrew Cawthorne)
