Rand weaker ahead of data-filled week

The rand was weaker in early trade on Monday ahead of a week jam-packed with both local and global economic data releases.

At 0645 GMT, the rand traded at R19.01 against the dollar.

The dollar last traded around 0.07% stronger against a basket of global currencies.

This week global investors await several developed market central bank meetings and data on US inflation that could hint at the possibility of interest rate cuts next year.

Locally, investors will on Wednesday turn their attention to consumer inflation for the month of November.

The October inflation reading neared the upper limit of the central bank’s target range of 3% to 6% and influenced its decision to keep its main interest rate unchanged at its November meeting.

South Africa’s benchmark 2030 government bond was slightly weaker in early deals, with the yield up 1.5 basis points to 10.070%.