Loading...
See More

Rand eyes US data for direction

Nov 02 2012 13:07 I-Net Bridge

Related Articles

Rand seen under pressure for rest of 2012

Rand firms, recovers from trade data

Rand flat in quiet trade

Rand steady, trade deficit could weigh

Rand flat in quiet trade

Rand flat‚ awaits US data for direction

 

Johannesburg – The rand weakened before noon on Friday as traders eye US employment data for direction.

“The rand is still range bound at the moment; what could drive the rand are the latest US unemployment and payroll data out at 2:30pm. We are expecting employment levels in the US to remain the same‚” said Ockert van Niekerk‚ head of trading at PSG.

At 11:33am‚ the rand was bid at R8.6640 to the US dollar from Thursday’s close of R8.6349. It was bid at R11.1567 to the euro from its previous close of R11.1756 and at R13.9514 against sterling from R13.9234 before.

The euro was bid at $1.2877 from Thursday’s close of $1.2947.

“The strikes have taken a back seat at the moment‚ traders are also keeping an eye on the ANC’s national conference in December to influence possible direction in the local currency‚” Van Niekerk said.

 
rand  |  markets

NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

Brought to you by BizNews

More from BizNews

We're talking about:

SMALL BUSINESS

Johannesburg has been selected to host the Global Entrepreneurship Congress in 2017. "[The congress] will ensure that small business development remains firmly on the national agenda and the radar screen of all stakeholders, the Small Business Development minister said.
 
 

Must see! The most luxurious dog house!

This dog house comes with a treadmill and hot tub, you have to see it!

 
 

Luxury living

Exciting new luxury SUV arrives in SA!
WIN!
Ridiculous demands people with too much money make
8 of the priciest places to dock your yacht

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Government’s call for the private sector to add power to the grid is:

Previous results · Suggest a vote

Loading...