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The rand edged higher in early trade on July 31 at 17.58 per dollar after a strong July, with gains of over 6% for the month. Investors were awaiting South Africa's June trade data, where analysts expected a surplus of 11.85 billion rand.
The SARB reported M3 money supply growth of 11.15%, above forecasts.
Routine currency moves with a strong trade surplus or money supply data would support the rand and lower dollar-denominated import costs; the effect on feed prices is small.
brecorder.comReutersJul 31, 2023Not 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.
