JOHANNESBURG (Reuters) -The South African rand showed little reaction on Friday to a key U.S. inflation report and mixed domestic economic data.
At 1521 GMT, the rand traded at 17.6675 against the dollar, a whisker away from Thursday’s close.
The dollar was flat against a basket of currencies after the world’s largest economy reported a rise in the Personal Consumption Expenditures Price Index – the Federal Reserve’s preferred inflation measure – which reinforced expectations of an interest rate cut next month.
On the domestic front, central bank data earlier showed that South Africa’s M3 money supply growth last month slowed to 6.75% from 7.27% in June, while credit growth accelerated to 5.8% from 4.98%.
The South African Revenue Service recorded a better than expected trade surplus of 20.29 billion rand ($1.16 billion) in July, but National Treasury data showed a budget deficit of 150.85 billion rand for the same month.
On the Johannesburg Stock Exchange, the Top-40 index was little changed from its previous close.
South Africa’s benchmark 2035 government bond was also flat at 9.605%.
($1 = 17.5632 rand)
(Reporting by Sfundo Parakozov and Anathi Madubela. Editing by Mrigank Dhaniwala and Mark Potter)
