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South African rand broadly steady before manufacturing survey, car sales data

By Reuters News

JOHANNESBURG, Nov 2 (Reuters) - The South African rand was little changed in early trade on Monday ahead of the release of a local manufacturing purchasing managers' index (PMI) and vehicle sales data for October.

  • At 0626 GMT the rand traded at 16.6965 against the dollar , a whisker away from its previous close

  • An Absa PMI survey is set to be released at 0900 GMT and will shed light on manufacturing conditions in Africa's largest economy

  • South African manufacturing sentiment improved in September after three months of contraction, helped by a rebound in new orders

  • Vehicle sales ZAVEHY=ECI data is due around 1200 GMT, giving a snapshot of consumer demand for big-ticket items

  • Nedbank economists said in a research note that they expect car sales growth to have moderated to 11.2% from 12.7% in September, reflecting the rise in fuel prices and interest rates

  • South Africa's benchmark 2035 government bond was flat in early deals, with the yield at 8.59%


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