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Rand steady, stocks set to open flat

Investors are getting ready for a heavy week of data.

JOHANNESBURG – South Africa’s rand steadied early on Monday as investors readied for a heavy week of data including consumer price inflation and an interest rate decision by the central bank.

At 0642 GMT, the rand traded at 13.0300 per dollar, unchanged from its close on Friday.

Statistics South Africa releases June CPI data and May retail sales data on Wednesday, while the South African Reserve Bank announces its rates decision on Thursday.

Stocks were set to open flat at 0700 GMT, with the JSE securities exchange’s Top-40 futures index largely unchanged.

In fixed income, the yield for the benchmark government bond due in 2026 fell 3 basis points to 8.665%. 

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Mart-Marie de Jongh

Mart-Marie de Jongh

Gray Swan Financial Services (Pty) Ltd
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Moneyweb Investor Issue 26

Yes, recession is stifling the economy and dirty politics darkens our discourse, but that is today. There are those who are planning for a better, brighter tomorrow. We talk to Chris van der Merwe, founder of Curro, about how he plans to transform tertiary education for the greater good with his new company, Stadio.

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