2 days ago
South African rand steady ahead of local PMI data
JOHANNESBURG, July 3 (Reuters) - The South African rand was steady in early trade on Thursday, ahead of the release of a local purchasing managers' index (PMI) as well as a U.S. payroll report which investors will pore over to try and predict the U.S. Federal Reserve's next steps.
At 0635 GMT the rand traded at 17.57 against the U.S. dollar , not far from Wednesday's close.
Domestic-focussed investors will look to the S&P Global June whole-economy PMI (ZAPMIM=ECI), opens new tab at 0715 GMT for a window on business conditions in Africa's biggest economy.
On Tuesday, a gauge of local manufacturing sentiment showed improvement in June, reaching its second-highest level this year, though output was still weak.
The dollar last traded flat against a basket of currencies as markets awaited jobs data due later in the day as well as updates on trade negotiations ahead of July 9 when U.S. tariffs are set to take effect.
The non-farm payrolls report is set for an addition of 110,000 jobs in June versus 139,000 in May, a Reuters poll showed.
South Africa's benchmark 2035 government bond was slightly weaker in early deals, with the yield rising 1.5 basis point to 9.85%.
