Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

South Africa's rand steadies ahead of U.S. jobs report

05/06/2021 | 03:30am EDT
South African Rand coins are seen in this illustration picture

JOHANNESBURG (Reuters) - The South African rand steadied in early trade on Thursday, with investors' focus on a key U.S. jobs report which may provide clues on when the Federal Reserve will dial back monetary stimulus.

At 0625 GMT, the rand traded flat at 14.3600 against the dollar, holding to gains made in late afternoon trade on Wednesday.

"Most emerging markets currencies are trading sideways at the moment as markets lack any clear direction and the dollar remains range-bound against the majors ahead of tomorrow's Non-farm payrolls report," said TreasuryONE currency strategist from Andre Cilliers.

The potential for higher U.S. interest rates has weighed on riskier but high-yielding assets like the rand this week.

Investor attention is also on a scheduled review of South Africa's sovereign credit by Moody's on Friday. The rating agency already assigns a "junk" status to the country, but with a negative outlook there is the potential for a further downgrade.

Government bonds firmed in early deals, and the yield on the instrument due in 2030 slipped 3 basis points to 9.090%.

(Reporting by Olivia Kumwenda-Mtambo; Editing by Krishna Chandra Eluri)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.53% 0.7706 Delayed Quote.0.69%
BRITISH POUND / US DOLLAR (GBP/USD) -0.45% 1.41056 Delayed Quote.3.63%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.00% 0.8222 Delayed Quote.5.28%
EURO / SOUTH AFRICAN RAND (EUR/ZAR) 0.38% 16.6261 Delayed Quote.-7.61%
EURO / US DOLLAR (EUR/USD) -0.53% 1.2108 Delayed Quote.-0.34%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.00% 0.013654 Delayed Quote.-0.09%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) -0.89% 0.7125 Delayed Quote.0.11%
US DOLLAR / SOUTH AFRICAN RAND (USD/ZAR) 0.41% 13.7313 Delayed Quote.-7.26%
Latest news "Economy & Forex"
11:15aEU and UK's 'sausage war' sizzles at G7 as Macron and Johnson spar
RE
11:13aExclusive-Shell considering possible sale of U.S. Permian assets
RE
10:55aEgypt signs 1.7 bln euros of financing deals with France
RE
10:53aOFFICE OF PRIME MINISTER OF CANADAá : Prime Minister Justin Trudeau meets with Prime Minister of Japan Suga Yoshihide
PU
10:52aWhere's the detail? G7 nations agree to boost climate finance
RE
10:49aCanada pm trudeau says there are some areas where we need to contest china directly, particularly in area of human rights
RE
10:45aG7 pledge cooperation on carbon leakage as EU border tariff looms
RE
10:36aCanada pm trudeau says g7 leaders agreed need to coordinate their approach on china much more closely
RE
10:29aMontenegro has no plan to sell state property to ease debt burden - report
RE
10:27aWho's who in Israel's new patchwork coalition government
RE
Latest news "Economy & Forex"