# South African rand drops as dollar jumps on US jobs report

> The rand fell about 1.1% to 18.82 per dollar after US non-farm payrolls showed 353,000 jobs added in January, well above the 180,000 expected. South African manufacturing PMI and vehicle sales data were also weak.

- Date: 2024-02-02 · published 2024-02-02T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/31946-south-african-rand-drops-as-dollar-jumps-on-us-jobs-report
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A strong US jobs report lifts the dollar, which tends to pressure dollar-denominated grain and oilseed prices while weakening emerging-market currencies.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- USDZAR: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-12-06 | [Dollar gains after stronger-than-expected U.S. jobs report \| Reuters](https://feedsoft.ai/events/55796-dollar-gains-after-stronger-than-expected-u-s-jobs-report-reuters.md) | -0.4% | -1.1% |
| DXY | 2021-03-05 | [Dollar jumps as U.S. jobs growth beats expectations \| Financial Post](https://feedsoft.ai/events/10067-dollar-jumps-as-u-s-jobs-growth-beats-expectations-financial-post.md) | +0.2% | +0.9% |
| DXY | 2024-04-10 | [Dollar Surges as a Hot US CPI Report Dampens Fed Rate Cut Expectations](https://feedsoft.ai/events/12560-dollar-surges-as-a-hot-us-cpi-report-dampens-fed-rate-cut-expectations.md) | +2.0% | +1.2% |
| DXY | 2025-04-30 | [South Africa's rand weakens after mixed local data, US GDP dip — TradingView News](https://feedsoft.ai/events/25420-south-africa-s-rand-weakens-after-mixed-local-data-us-gdp-dip-tradingview-news.md) | -0.5% | -0.5% |
| DXY | 2022-02-04 | [Dollar rises from two-week low after U.S. jobs surprise](https://feedsoft.ai/events/9876-dollar-rises-from-two-week-low-after-u-s-jobs-surprise.md) | -0.3% | +1.5% |
| CORN | 2024-04-10 | [Dollar Surges as a Hot US CPI Report Dampens Fed Rate Cut Expectations](https://feedsoft.ai/events/12560-dollar-surges-as-a-hot-us-cpi-report-dampens-fed-rate-cut-expectations.md) | +0.1% | +2.3% |
| CORN | 2023-09-15 | [USDA report triggers corn and soybean price drop, wheat remai ...](https://feedsoft.ai/events/34044-usda-report-triggers-corn-and-soybean-price-drop-wheat-remai.md) | -7.1% | -4.6% |
| CORN | 2024-06-28 | [Corn Falls on Friday as USDA Reports Larger Acreage and Stocks](https://feedsoft.ai/events/29803-corn-falls-on-friday-as-usda-reports-larger-acreage-and-stocks.md) | -0.3% | -0.9% |

## Sources

- reuters.com: https://www.reuters.com/world/africa/south-african-rand-little-changed-global-focus-us-jobs-data-2024-02-02/

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