JOHANNESBURG (Reuters) – The South African rand was stronger on Monday as markets awaited the release of local gross domestic product (GDP) figures for clues on the health of Africa’s largest economy.
At 1502 GMT the rand traded at 17.5175 against the dollar, roughly 0.5% up on Friday’s close.
Statistics South Africa is set to release second-quarter GDP data at 0930 GMT on Tuesday.
The country eked out quarter-on-quarter growth of 0.1% in the first quarter as contractions in sectors like mining and manufacturing offset a strong performance by agriculture.
Investor focus will shift to mining, manufacturing and current account numbers due on Thursday.
The greenback last traded 0.3% weaker against a basket of currencies as last week’s soft U.S. jobs data reinforced expectations the Federal Reserve will cut interest rates next week.
On the Johannesburg Stock Exchange, the Top-40 index closed up 1.3%.
South Africa’s benchmark 2035 government bond was stronger, as the yield fell 1 basis point to 9.555%.
(Reporting by Sfundo Parakozov and Anathi Madubela; Editing by Andrew Cawthorne and Andrea Ricci)
