South African rand flat, retail sales data in focus
- Later in the session, market attention will turn to the US Federal Reserve, whose two-day policy meeting is due to end on Wednesday.
JOHANNESBURG: South Africa's rand was flat early on Wednesday ahead of retail sales data due later in the day, which will give clues about the health of Africa's most industrialised economy.
At 0610 GMT, the rand traded at 14.9100 versus the dollar, less than 0.1% weaker than its previous close.
The statistics agency is scheduled to release January retail figures at around 1100 GMT.
Retail sales, one of the main drivers of economic growth in South Africa, were last in positive territory in annual terms in March 2020, after which they collapsed when the government imposed a strict lockdown to contain the coronavirus.
Later in the session, market attention will turn to the US Federal Reserve, whose two-day policy meeting is due to end on Wednesday.
The Fed has had interest rates pinned near zero for the past year and has promised to keep them there until the economy reaches full employment and inflation has hit a sustained 2%.
South Africa's government bonds were also little changed early on Wednesday, with the yield on the benchmark 2030 instrument at 9.20%.
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