JOHANNESBURG: South Africa’s rand strengthened in early trade on Thursday, ahead of much anticipated domestic third-quarter current account and October manufacturing data.
At 0711 GMT, the rand traded at 17.1100 against the dollar, 0.36% stronger than its previous close.
Local investor attention will be on third-quarter current account data and October manufacturing numbers due later in the day, which could give clues on the health of South African economy.
Economists polled by Reuters are predicting the current account deficit will narrow to 0.8% of gross domestic product and that manufacturing output will rise 4.5% year on year.
South African rand steady ahead of Q3 GDP data
The dollar index was last trading up 0.08% at 105.21. On the stock market, the Top-40 index and the broader all-share were both up 0.04% in early trade.
The government’s benchmark 2030 bond was lower in early deals, with the yield up 5 basis points to 10.510%.
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