South Africa's rand rose modestly early on Thursday ahead of the release of a number of local economic indicators, including producer inflation and the main US inflation measure.
The rand traded at R19.24 against the US dollar.
South African investors will be watching January's producer inflation, trade and fiscal balance figures released later in the day for clues about the health of the local economy.
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Earlier central bank data showed South Africa's M3 money supply growth in January was 6.58% year-on-year, while credit growth was 3.16% year-on-year.
M3 is a measure of money supply published by the South African Reserve Bank and includes all currencies, bank deposits and bonds in circulation.
Investors will also be watching the release of the U.S. Personal Consumption Expenditures (PCE) price index, the Fed's preferred measure of inflation, for new direction on the Fed's interest rate outlook.
“Markets continue to trade weakly,” said Andre Cilliers, currency strategist at TreasuryOne. “(Markets) are awaiting the PCE statistics for further clues in the fight over when the FOMC will start cutting rates.” said.
South Africa's benchmark 2030 government bond edged up in early trading, with its yield down 2 basis points to 10.170%.
