South African rand firms after producer inflation data, central bank review
Updates prices to reflect afternoon trade, SARB review in paragraph 4
JOHANNESBURG, Nov 28 (Reuters) -The South African rand strengthened onThursday, after the release of Octoberproducer inflation data and the central bank's November Financial Stability Review.
At 1507 GMTthe rand wastrading at 18.115 tothe dollar ZAR=D3, about 0.5% stronger than its previous close.
South African producer inflation was at minus 0.7% year-on-year in October, down from 1.0% in September, statistics agency data showed.
TheSouth African Reserve Bank (SARB) said in its November Financial Stability Review that theoutlook for financial stability had improved as a result of successful elections, a reduction in power cuts and an expectation of lower interest rates.
Domestic investor focus will turn on Friday towards month-end economic data releases that include money supply, trade and budget balance.
On the stock market, the Top-40 .JTOPI index closed about 0.4% lower.
South Africa's benchmark 2030 government bond ZAR2030= was stronger, with the yield down 6basis points at 8.97%.
Reporting by Tannur Anders and Bhargav Acharya
Editing by David Goodman and Kevin Liffey
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
