The stability of the South African Rand remained unaltered in early Tuesday trading, awaiting pivotal economic indicators. As the clock struck 0615 GMT, the Rand steadfastly held its position at 18.9400 versus the dollar, mirroring its stance at the close of the previous day.
Anticipation builds as the Absa Purchasing Managers’ Index (PMI) for March, scheduled for a 0900 GMT release, is expected to illuminate the manufacturing landscape of South Africa, the continent’s premier industrial power. Following closely, the revelation of March’s vehicle sales data around 1200 GMT will provide a clear view into consumer appetite for substantial purchases, serving as a barometer for broader economic health.
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