Week Ahead: PMI likely to reflect weak activity in the manufacturing sector in Q3.17
01 Oct 2017
The rand depreciated by approximately 2.4% over the course of last week. This was directionally in line with the performance of the broader emerging market currency complex, with the US$ index rising as markets participants revised the likelihood of a US interest rate hike in December.
Rand, currency outlook for the week ahead and foreign flows:
In the week ahead, the rand is expected to trade in a range of R14.10/USD – R13.10/USD, R16.50/EUR - R15.50/EUR and R18.70/GBP - R17.70/GBP.