South African rand flat ahead of local data
The South African rand was muted in early trade on Wednesday, as traders awaited inflation data, retail sales data and a business confidence index that will shed light on the country's economic outlook.
At 0532 GMT the rand traded at 16.0125 against the dollar, little changed from its previous close of 16.0175.
Domestically-focused traders are waiting for January consumer inflation data due at 0800 GMT and November retail sales at 1100 GMT.
Economists polled by Reuters expect annual inflation will come in at 3.4% for January, down from 3.6%.
Investec economist Lara Hodes said inflation is projected to have lifted by a modest 0.2% m/m in January, translating to 3.5% y/y.
"Fuel prices decreased in January, with the petrol price down -66c/litre. Moreover, international food prices, which affect domestic prices through export/import parity decreased by -2.1% m/m in January," Hodes said in a research note.
Nedbank economists forecast CPI to remain unchanged at 3.6% in January citing upward pressure from food inflation, driven by elevated meat prices reflecting the continued impact of foot-and-mouth disease.
Then, for insight on private sector sentiment, the South African Chamber of Commerce and Industry will release its business confidence index at 0930 GMT.
South Africa's benchmark 2035 government bond was also flat in early deals, with the yield at 7.195%
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Projects
Latest Multimedia
Latest News
Showroom
Roytec Global is an international company specializing in liquid / solid and mineral separation technologies for the Mining and Industrial sectors.
VISIT SHOWROOM
ALBIS FLANGES — founded in 1965 — is a petro-chemical approved manufacturer of flanges and fittings in most grades of steel, listed with Sasol,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
