JOHANNESBURG, Dec 14 (Reuters) – The South African rand was steady in early trading on Wednesday as investors awaited the release of consumer inflation and retail sales figures.
At 0555 GMT, the rand was trading at 17.2550 against the dollar, 0.1% lower than Tuesday’s close.
Statistics South Africa will release November consumer inflation (ZACPIY=ECI) figures around 0800 GMT, and October retail sales (ZARET=ECI) around 1100 GMT.
Economists polled by Reuters expect inflation to fall to 7.5% year-on-year in November from 7.6% in October, with October retail sales to contract 0.5% year-on-year from a 0 drop. .6% the previous month.
In global markets, attention turned to a policy announcement from the US Federal Reserve later in the day.
Risk-sensitive currencies like the rand got a boost on Tuesday as US consumer prices rose less than expected for a second straight month in November, clearing the way for the Fed to start reduce your interest rate increases.
Also propping up the rand, South Africa’s ruling African National Congress party on Tuesday blocked impeachment proceedings against President Cyril Ramaphosa from starting.
The benchmark 2030 government bond was firmer early Wednesday, the yield falling 7 basis points to 10,300%.
Reporting by Alexander Winning; Edited by Kim Coghill
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