JOHANNESBURG (Reuters) – South Africa’s rand was little changed early on Thursday ahead of monthly producer inflation data, which will give investors some insight into price pressures in Africa’s most industrialised economy.
At 0652 GMT, the rand traded at 18.4450 against the dollar, near its previous closing level.
Statistics South Africa will release January domestic producer inflation figures at 0930 GMT. Economists polled by Reuters expect year on year producer inflation to be at 1%.
The dollar gained about 0.15% against a basket of currencies as markets await U.S. GDP data later on Thursday and an inflation reading on Friday. South Africa’s benchmark 2030 government bond was weaker in early deals, with the yield up 4 basis points to 9.065%.
(Reporting by Sfundo Parakozov, Editing by Bhargav Acharya and Susan Fenton)
