Error:

Javascript is disabled in this browser. This page requires Javascript. Modify your browser's settings to allow Javascript to execute. See your browser's documentation for specific instructions.

Economy

Actions

Economy

Rand flat after four straight days of gains, eyes on US payrolls data

Date: Mar 7, 2025

South Africa's (SA) Rand was little changed early on Friday as investors awaited United States (US) non-farm payrolls data for Dollar direction, after four consecutive days of gains for the local unit.

At 08h22 CAT, the Rand traded at 18.1450 against the Dollar, near its previous close of 18.1475.

The Dollar last traded about 0.2% weaker as markets were met with confusion regarding the US trade policy after US President Donald Trump on Thursday suspended the 25% tariffs he imposed this week on most goods from Canada and Mexico until April 2.

Trump also threatened to impose a global regime of reciprocal tariffs on all US trading partners.

ETM Analytics in a research note said that Friday could mark the fifth consecutive day of rand appreciation with the market being biased against the Dollar.

Markets will look to US non-farm payrolls data later on Friday for Dollar direction.

"Investors will wait for the payrolls data. If it disappoints, the USD-ZAR might very well retest levels closer to the 18.0000 handle," the research note added.

--Reuters--