[CURRENCY] At 12:00, the rand traded at R18.16 to the dollar, at the start of a week where trading could be thinner and market conditions more volatile because of upcoming public holidays. Moneyweb Currency
The rand fell in early trade on Monday as the dollar advanced, at the start of a week where trading could be thinner and market conditions more volatile because of upcoming public holidays. The US currency was up 0.1% against a basket of rivals. South Africa marks Freedom Day on Thursday, and with the following Monday another public holiday, Workers’ Day, many local traders will be away from their desks from Wednesday’s market close until next Tuesday.
This week’s economic data releases include the central bank’s leading business cycle indicator for February on Tuesday, the March producer price index on Wednesday, and March money supply, trade and budget figures on Friday. “Although none is typically market-moving, they could exert some influence in thinned-out market conditions,” ETM Analytics said.
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