South Africa's rand down

South Africa's rand weakened on Monday, pressed lower by weak Chinese export data that dented risk appetite and a fifth straight day of nationwide power cuts by utility Eskom as heavy rains and flooding caused failures at multiple power plants. At 1630 GMT, the rand was down 0.51% at 14.6790 per dollar compared to a close of 14.6050 on Friday.

State utility Eskom on Monday said it would cut up to 6,000 megawatts (MW) of power from the national grid as heavy rain and flooding triggered failures at its Medupi plant. The utility had earlier said it would cut 4,000 MW from the grid as it entered a fifth day of rotational blackouts.

That added to pressure from uneasy global risk mood after China's exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-US trade war.

Beyond the power cuts and trade war investors will eye the raft of data releases this week with manufacturing and mining production, consumer prices and retail sales all due.