The rand slipped early on Tuesday as danger aversion returned to world markets, with an earnings warning from Snapchat’s proprietor prompting a retreat in US inventory futures.
At 0630 GMT, the rand traded at R15.81 towards the greenback, 0.3% weaker than its earlier shut.
Market consideration on Tuesday is prone to be centered on the discharge of world buying supervisor index surveys and feedback by policymakers on the World Financial Discussion board.
A number of threats to the worldwide financial system topped the troubles of the well-heeled on the Davos discussion board on Monday, with some flagging the danger of a worldwide recession.
A South African enterprise cycle indicator shall be launched round 0700 GMT and will make clear the native outlook in an in any other case gentle week for home knowledge.
The federal government’s benchmark 2030 bond fell in early offers, with the yield rising 6.5 foundation factors to 9.785%.