“The initial relief rally was never going to last. Investors need more detail now in order for that risk-on sentiment to survive,” said London Capital Group analysts.
At 9:30am the rand was 0.52% stronger against the dollar at R13.6224, 0.24% against the euro at R15.5113 and 0.4% against the pound at R17.3565. The euro was 0.27% up at $1.1386.
The bid on the benchmark R186 government 10-year note was last seen at 8.89% from 8.9%.
Local focus is on third-quarter GDP numbers at 11:30am, which will answer weeks of speculation on whether SA has exited its technical recession — defined as two consecutive quarters of contractions.
The Trading Economics consensus is that SA’s economy grew 0.5% in the third quarter on an annualised basis.
- BusinessLIVE