20°C / 22°C
  • Sat
  • 21°C
  • 9°C
  • Sun
  • 20°C
  • 9°C
  • Mon
  • 20°C
  • 9°C
  • Tue
  • 18°C
  • 6°C
  • Wed
  • 18°C
  • 4°C
  • Thu
  • 19°C
  • 8°C
  • Sat
  • 19°C
  • 10°C
  • Sun
  • 20°C
  • 11°C
  • Mon
  • 16°C
  • 12°C
  • Tue
  • 16°C
  • 11°C
  • Wed
  • 14°C
  • 10°C
  • Thu
  • 16°C
  • 11°C
  • Sat
  • 23°C
  • 9°C
  • Sun
  • 22°C
  • 10°C
  • Mon
  • 22°C
  • 10°C
  • Tue
  • 20°C
  • 10°C
  • Wed
  • 21°C
  • 7°C
  • Thu
  • 22°C
  • 9°C
  • Sat
  • 22°C
  • 5°C
  • Sun
  • 22°C
  • 6°C
  • Mon
  • 23°C
  • 8°C
  • Tue
  • 20°C
  • 4°C
  • Wed
  • 19°C
  • 3°C
  • Thu
  • 21°C
  • 9°C
  • Sat
  • 21°C
  • 17°C
  • Sun
  • 21°C
  • 17°C
  • Mon
  • 24°C
  • 17°C
  • Tue
  • 24°C
  • 17°C
  • Wed
  • 21°C
  • 16°C
  • Thu
  • 21°C
  • 14°C
  • Sat
  • 18°C
  • 12°C
  • Sun
  • 19°C
  • 11°C
  • Mon
  • 20°C
  • 14°C
  • Tue
  • 17°C
  • 13°C
  • Wed
  • 17°C
  • 10°C
  • Thu
  • 19°C
  • 11°C
  • Sat
  • 19°C
  • 8°C
  • Sun
  • 21°C
  • 12°C
  • Mon
  • 14°C
  • 10°C
  • Tue
  • 12°C
  • 8°C
  • Wed
  • 13°C
  • 7°C
  • Thu
  • 14°C
  • 9°C
  • Sat
  • 17°C
  • 11°C
  • Sun
  • 18°C
  • 13°C
  • Mon
  • 15°C
  • 11°C
  • Tue
  • 14°C
  • 10°C
  • Wed
  • 13°C
  • 10°C
  • Thu
  • 15°C
  • 11°C
  • Sat
  • 24°C
  • 8°C
  • Sun
  • 23°C
  • 9°C
  • Mon
  • 23°C
  • 9°C
  • Tue
  • 20°C
  • 9°C
  • Wed
  • 21°C
  • 7°C
  • Thu
  • 22°C
  • 10°C
  • Sat
  • 20°C
  • 6°C
  • Sun
  • 21°C
  • 5°C
  • Mon
  • 23°C
  • 7°C
  • Tue
  • 15°C
  • 3°C
  • Wed
  • 15°C
  • 1°C
  • Thu
  • 19°C
  • 5°C
  • Sat
  • 22°C
  • 12°C
  • Sun
  • 22°C
  • 10°C
  • Mon
  • 24°C
  • 10°C
  • Tue
  • 26°C
  • 10°C
  • Wed
  • 20°C
  • 10°C
  • Thu
  • 24°C
  • 12°C
  • Sat
  • 18°C
  • 10°C
  • Sun
  • 20°C
  • 10°C
  • Mon
  • 20°C
  • 13°C
  • Tue
  • 16°C
  • 10°C
  • Wed
  • 16°C
  • 8°C
  • Thu
  • 19°C
  • 8°C

Rand weaker before retail sales data

The rand slumped by almost 2% on Tuesday, hurt by a strong dollar fueled by rising US bond yields.

Picture: EWN

JOHANNESBURG - The rand was slightly weaker early on Wednesday as investors awaited retail sales data for clues about the health of the economy.

At 0610 GMT, the rand traded at R12.5900 versus the dollar, down around 0.15% from its close on Tuesday.

Statistics South Africa is scheduled to publish March retail sales data, which reflects the strength of consumer confidence, at around 1100 GMT.

Economists polled by Reuters expect retail sales growth to slow to 4.4% from 4.9% in February.

The rand slumped by almost 2% on Tuesday, hurt by a strong dollar fuelled by rising US bond yields.

The South African currency has been pulled this way and that in recent weeks, taking its cue from global market moves. It is down around 1% against the US currency since the end of last month.

Government bonds were also weaker in early deals, with the yield on the benchmark instrument due in 2026 up 1.5 basis points to 8.505%.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus