South African Rand coins are seen in this illustration picture taken October 30, 2020. REUTERS/Mike Hutchings/Illustration/ File PhotoPurchase LicensingRights, opens new tabJOHANNESBURG, July 28 (Reuters) – The South African rand was weaker in early trade on Monday, with investor attention pinned on key economic data expected during the week while investors also eyed an uncomfortably close August 1 deadline for U.S. President Donald Trump’s country-specific tariffs.At 0524 GMT the rand traded at 17.7475 against the dollar , 0.2% weaker than Friday’s close.Sign uphere.The risk-sensitive currencylost a bit of groundlast week and remains on the back foot as cautious traders await tariff updates with the country facing a 30% duty on its exports to the U.S. and an interest rate decision by the South African Reserve Bank on Thursday.Many traders and analystsexpect another rate cut(ZAREPO=ECI), opens new tabafter inflation(ZACPIY=ECI), opens new tabrose modestly in June, moving just inside the central bank’s target range.For further clues on the shape of Africa’s most industrialised economy, investors will look to money supply(ZAM3=ECI), opens new taband private sector credit(ZACRED=ECI), opens new tabdata on Tuesday, budget balance(ZABUD=ECI), opens new tabfigures on Wednesday, producer inflation(ZAPPI=ECI), opens new taband trade balance(ZATBAL=ECI), opens new tabdata on Thursday.South Africa’s benchmark 2035 government bond was marginally stronger in early deals, as the yield fell 1.5 basis points to 9.835%.Reporting by Sfundo Parakozov; Editing by Toby ChopraOur Standards:The Thomson Reuters Trust Principles., opens new tabSuggested Topics:AfricaShareXFacebookLinkedinEmailLinkPurchase Licensing Rights
Source: Reuters Africa
