The rand was firmer against major currencies on Thursday morning as markets took heart from Chinese manufacturing data. China’s manufacturing purchasing managers index (PMI) for September was released this morning‚ with the index coming in at 49.8 points‚ marginally higher than the 49.7 points seen in August. "The print still signals contraction in China’s manufacturing sector. That said‚ this is the first month-on-month increase since May this year. It appears as if markets are relieved about this print‚ with commodities and the rand finding some support this morning‚" Standard Bank analysts said. At 8.30am‚ the rand was at R13.7726 to the dollar from an overnight close of R13.8542. Against the euro‚ the rand was at R15.43488 from R15.4842 previously and was at R20.8305 against the pound from a previous close of R20.9548. The euro was at $1.1144 from $1.1177. Barclays Research said in an early morning note that the rand would take its cue from the US for the rest of the day. "Given that we are in line with consensus for the US ISM manufacturing data to be released later today‚ we believe that rand investors will largely ignore these data and brace for potentially further hawkish Federal Reserve commentary as San Francisco Fed president (John) Williams and Atlanta Fed president Dennis Lockhart give speeches on the US outlook‚" the research team said.

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