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Johannesburg - The rand was steady against the dollar on Monday as the market looks ahead to a data-heavy week which sees the release of producer inflation, factory and trade figures.
The rand was at R9.8200/$ at 08:45, little changed from Friday's close in New York.
Key data due to be released this week include September producer inflation and trade on Thursday and October PMI and vehicle sales on Friday.
However, the market will keep a close eye on events in the United States, including a meeting this week of the Federal Reserve Federal Open Market Committee (FOMC), which could shed light on the fate of the central bank's bond buying programme.
The Fed is expected to maintain quantitative easing which should support risky assets like the rand.
"The Fed continues with its $85bn a month QE (quantitative easing) policy, and there are very few, if any, who expect the Fed to announce a tapering of QE this week," wrote Chris Becker, market strategist at ETM Analytics.
"Although the FOMC is always a big event that could still surprise markets this week, an extension of the current policy status quo is expected. The risk of an FOMC shock that roils African capital markets is muted."
The yield on the 2026 government bond rose 6 basis points to 7.89% while that on the 2015 paper was flat at 5.815%.
The rand was at R9.8200/$ at 08:45, little changed from Friday's close in New York.
Key data due to be released this week include September producer inflation and trade on Thursday and October PMI and vehicle sales on Friday.
However, the market will keep a close eye on events in the United States, including a meeting this week of the Federal Reserve Federal Open Market Committee (FOMC), which could shed light on the fate of the central bank's bond buying programme.
The Fed is expected to maintain quantitative easing which should support risky assets like the rand.
"The Fed continues with its $85bn a month QE (quantitative easing) policy, and there are very few, if any, who expect the Fed to announce a tapering of QE this week," wrote Chris Becker, market strategist at ETM Analytics.
"Although the FOMC is always a big event that could still surprise markets this week, an extension of the current policy status quo is expected. The risk of an FOMC shock that roils African capital markets is muted."
The yield on the 2026 government bond rose 6 basis points to 7.89% while that on the 2015 paper was flat at 5.815%.
