# Market trades with caution ahead of US Fed rate decision this week

> South African markets and the rand traded cautiously on Monday ahead of the US Federal Reserve decision later in the week, which is widely expected to hold rates steady. The rand was trading about 0.07% lower at R18.77 to the dollar, and the dollar index fell below 106.

- Date: 2024-04-29 · published 2024-04-29T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/31036-market-trades-with-caution-ahead-of-us-fed-rate-decision-this-week
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Expectations of no near-term Fed cut keep the dollar firm, which supports the rand's exchange rate against the dollar and keeps import costs for dollar-priced feed inputs elevated.

## Read by commodity

- DXY: neutral
- USDZAR: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2026-07-29 | [South African rand tracks subdued market peers ahead of Fed interest rate decision \| MarketScreener Australia](https://feedsoft.ai/events/18639-south-african-rand-tracks-subdued-market-peers-ahead-of-fed-interest-rate.md) | -0.9% | -2.0% |
| DXY | 2019-06-17 | [Forex Market: Dollar steady ahead of Fed meeting; low chances of June rate cut](https://feedsoft.ai/events/58784-forex-market-dollar-steady-ahead-of-fed-meeting-low-chances-of-june-rate-cut.md) | -0.9% | -1.1% |
| DXY | 2023-05-03 | [Fed Rate Decision Leaves Wall Street Investors With Many Questions - Bloomberg](https://feedsoft.ai/events/35848-fed-rate-decision-leaves-wall-street-investors-with-many-questions-bloomberg.md) | -0.7% | +1.1% |
| DXY | 2024-01-31 | [Dollar Flat Ahead of FOMC Decision, US Payrolls Report](https://feedsoft.ai/events/32401-dollar-flat-ahead-of-fomc-decision-us-payrolls-report.md) | +0.3% | +0.4% |
| DXY | 2026-04-29 | [US Dollar Index steadies near 98.50, all eyes on Fed rate decision](https://feedsoft.ai/events/19920-us-dollar-index-steadies-near-98-50-all-eyes-on-fed-rate-decision.md) | -0.1% | +0.3% |

## Sources

- iol.co.za: https://iol.co.za/business-report/markets/2024-04-29-market-trades-with-caution-ahead-of-us-fed-rate-decision-this-week/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.