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South Africa's rand was broadly steady at about 17.67 per dollar after producer inflation fell to 1.0% year on year in September and a trade surplus of 12.84 billion rand was reported. The move followed the finance minister's mid-term budget, which showed wider deficits and higher debt over the next three years.
Wider fiscal deficits and higher debt weigh on the rand, which affects the cost of imported feed inputs priced in dollars for South African buyers. The market impact is modest and mainly currency-related.
reuters.comOct 31, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
