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Johannesburg - The rand was on the back foot against the dollar early on Tuesday, weakening within the previous day's range as investors treaded cautiously before the release of key GDP data.
Statistics South Africa will put out third-quarter economic growth numbers at 11:30, and will also rebase the reference year to 2010 and benchmark the data with new information. The exercise will see a revision of GDP numbers from 2002.
Economists in a Reuters poll have forecast that economic growth picked up in the third quarter, to 1.5% quarter-on-quarter, from 0.6% in Q2.
The rand traded at R11.0435 to the dollar at 08:13, off a R11.0160 close in New York on Monday.
An upbeat GDP number should encourage the rand back to R10.90 levels tested in the last two sessions. Dealers said they preferred buying dollar dips towards R10.85.
The benchmark 2026 bond came off 2014 highs hit on Friday, with the yield rising 4.5 basis points to 7.785% so far this session.
The Treasury is holding a sale of 2031, 2032 and 2044 bonds at a weekly auction. Results are due just after 11:00.
Also on the data calendar in this session, is the South African Reserve Bank's leading business cycle indicator at 09:00, and the fourth quarter business confidence index from Rand Merchant Bank at 12:00.
Statistics South Africa will put out third-quarter economic growth numbers at 11:30, and will also rebase the reference year to 2010 and benchmark the data with new information. The exercise will see a revision of GDP numbers from 2002.
Economists in a Reuters poll have forecast that economic growth picked up in the third quarter, to 1.5% quarter-on-quarter, from 0.6% in Q2.
The rand traded at R11.0435 to the dollar at 08:13, off a R11.0160 close in New York on Monday.
An upbeat GDP number should encourage the rand back to R10.90 levels tested in the last two sessions. Dealers said they preferred buying dollar dips towards R10.85.
The benchmark 2026 bond came off 2014 highs hit on Friday, with the yield rising 4.5 basis points to 7.785% so far this session.
The Treasury is holding a sale of 2031, 2032 and 2044 bonds at a weekly auction. Results are due just after 11:00.
Also on the data calendar in this session, is the South African Reserve Bank's leading business cycle indicator at 09:00, and the fourth quarter business confidence index from Rand Merchant Bank at 12:00.
