JOHANNESBURG (Reuters) -The South African rand softened on Tuesday after the release of a local leading business cycle indicator.
At 1501 GMT the rand traded at 17.6575 against the dollar, about 0.3% weaker than Monday’s close.
South Africa’s composite leading business cycle indicator rose 0.4% month on month in June, central bank data showed on Tuesday.
The indicator collects data on vehicle sales, business confidence, money supply and other factors and helps investors gauge the outlook for Africa’s most industrialised economy.
Domestic releases due later in the week include producer inflation numbers on Thursday, money supply and private sector credit data, and trade balance and budget balance figures on Friday.
The Johannesburg Stock Exchange’s Top-40 index was last down about 0.3%.
South Africa’s benchmark 2035 government bond was weaker, as the yield rose 1.5 basis points to 9.59%.
(Reporting by Sfundo Parakozov; Editing by Janane Venkatraman and Nick Zieminski)
