JOHANNESBURG, Sept 12 (Askume) – The South African rand was little changed in early trade on Thursday ahead of the release of local mining output data and a survey of inflation expectations.
By 0600 GMT, the rand was trading at 17.8925 per dollar, not much higher than the previous close of 17.9050.
The rand has mainly tracked global markets this week, including US inflation data and its impact on next week’s Federal Reserve meeting, but that could change on Thursday.
The South African Bureau of Economic Research will release its third quarter inflation expectations survey at around 0800 GMT, showing where analysts, traders and union officials expect inflation to rise over the next three years.
Inflation expectations are a key data point when the central bank makes interest rate decisions. Its next decision will be announced on September 19, with economists widely predicting the first rate cut in more than four years.
Statistics South Africa will release July mining production data (ZAMNG=ECI) at around 0930 GMT.
Analysts polled by Askume expect output to return to annual growth after a fall in June, reflecting uncertain conditions in Africa’s most industrialised economy.
South Africa’s benchmark 2030 government bond yield is relatively stable at 8.995%.
