JOHANNESBURG (Reuters) – Strengthened early on Monday, at the start of a week of economic data that will shed light on the health of Africa’s most industrialized economy heading into the new year.
At 0732 GMT, the rand was trading at 17.94 against the dollar, about 0.5% stronger than the previous close.
“The (rand) regained some ground last week, which could continue into early this week, although with so much domestic data, there is undoubtedly some fear of any significant directional trading taking over,” ETM Analytics said in a research note.
South Africa-focused investors this week will be looking at October mining output and production data on Tuesday and retail sales on Wednesday.
Also on Wednesday, Statistics South Africa will release consumer inflation data for November, and on Thursday it will release producer inflation figures for the same month.
“All of these data sets are relevant as investors seek to assess the prospects for the South African economy over the coming year,” the ETM note said.
On the Johannesburg Stock Exchange, the Top 40 index fell slightly in early trading.
The South African government bond for 2030 was little changed; the return was 8.925%.
