| South Africa’s rand held onto gains and is slightly stronger this morning. Most emerging market currencies are benefiting from a positive global economic outlook. Trading should be quiet ahead of the release of U.S. jobs data this afternoon. While the euro, gold and other commodities remain well supported the rand will remain strong.
The U.S. dollar held steady on Friday with investors consolidating positions ahead of October non-farm payrolls data due later in the session, a report that would highlight the durability of an economic recovery. A Reuters poll showed median forecasts are for 175,000 jobs being shed, slower than the 263,000 lost in September, with the jobless rate rising to 9.9 percent. If the numbers disappoint, investors are likely to flock to the U.S dollar and the yen JPY=, while a strong report could see high-yielding currencies gain. |
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| Current levels | |||
| Rand / Usd | 7.5900-7.6400 | ||
| Rand / Euro | 11.2800-11.3300 | ||
| Rand / Sterling | 12.6000-12.6500 | ||
| Jpy / Rand | 11.90 -11.95 | ||
| Jpy / Usd | 90.645 | ||
| Usd / Euro | 1.4875 | ||
| Gbp / Usd | 1.6620 | ||
| Gold | $1 091.00 | ||
| Brent | $78.63 | ||
| Expected ranges | |||
| Rand / Usd | 7.53000-7.7300 | ||
| Rand / Euro | 11.2000-11.4000 | ||
| Rand / Sterling | 12.5000-12.7000 | ||
| Jpy / Rand | 11.85-12.05 | ||




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