South African rand steady as traders await month-end data

By Reuters News

JOHANNESBURG, Oct 23 (Reuters) - The South African rand was little changed early on Friday as investors paused after the currency's sharp fall in the previous session and looked ahead to month-end economic data next week for further clues on the health of Africa's largest economy.

  • At 0636 GMT the rand traded at 16.5050 against the dollar , broadly unchanged from Thursday's close after falling sharply in the previous session as elevated oil prices weighed on the currency of the fuel-importing nation

  • The past week has been busy for investors, with Statistics South Africa reporting better than expected inflation and Finance Minister Enoch Godongwana announcing a medium-term budget that included two months of temporary fuel levy relief

  • Focus next week will turn to a string of economic releases, including the leading business cycle indicator ZALEAD=ECI on Tuesday, money supply ZAM3=ECI, private-sector credit ZACRED=ECI and producer inflation ZAPPIY=ECI on Thursday, plus budget balance ZABUDM=ECI and trade balance ZATBAL=ECI figures on Friday

  • South Africa's benchmark 2035 government bond was flat, with the yield at 8.615%

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