JOHANNESBURG (Reuters) -The South African rand was little changed in early trade on Friday ahead of the release of a purchasing managers’ index survey and as global markets monitor the impact of a U.S. government shutdown.
At 0608 GMT, the rand traded at 17.3125 against the dollar, about 0.2% weaker than its close on Thursday.
Investors will look to the S&P Global August whole-economy PMI at 0715 GMT for a window on business conditions in Africa’s most industrialised economy.
Last month’s index showed that South African businesses experienced a very modest improvement in operating conditions as cost pressures eased.
A local PMI sponsored by South African bank Absa showed on Wednesday that manufacturing sentiment improved in September, driven by strong domestic demand.
“The domestic market drove the recovery as global demand remained under pressure and is complicated by steep U.S. tariffs, a challenging trading environment, and lingering SA port issues,” Absa said in a statement.
The dollar was flat against a basket of currencies, with investor focus on the impact of a U.S. government shutdown that started on Wednesday after Congress failed to agree a new spending plan.
In fixed income, government bonds were flat, with the yield for debt maturing in 2035 at 9.16%.
(Reporting by Anathi Madubela.Editing by Mark Potter)
