JOHANNESBURG (Reuters) – South Africa’s rand dipped on Tuesday, ahead of gross domestic product (GDP) data that is expected to show a dismal third-quarter performance.
At 0630 GMT, the rand traded at 14.5730 versus the dollar, 0.2% weaker than its previous close.
Analysts polled by Reuters have predicted a 0.1% GDP growth in the third quarter in seasonally-adjusted quarter-on-quarter terms, following a 3.1% expansion in the second quarter.
Statistics South Africa will release the data at 0930 GMT.
Almost two years after taking office, President Cyril Ramaphosa has struggled to get Africa’s most industrialised economy firing on all cylinders.
Investment levels and business confidence remain weak.
Government bonds were flat on Tuesday, with the yield on the benchmark 2026 instrument at 8.46%.
(Reporting by Alexander Winning; Editing by Sriraj Kalluvila)
FILE PHOTO: South African Rand coins are seen in this photo illustration
© 2019 Thomson Reuters. All rights reserved. Reuters content is the intellectual property of Thomson Reuters
or its third party content providers. Any copying, republication or redistribution of Reuters content, including
by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon.
"Reuters" and the Reuters Logo are trademarks of Thomson Reuters and its affiliated companies.
 => stdClass Object
[id] => 1301413
[url] => OZABS-UK-SAFRICA-MARKETS
[image] => 2019-11-22T074034Z_1_LYNXMPEFAL0JB-OZABS_RTROPTP_1_OZABS-UK-SAFRICA-MARKETS.JPG
[image2] => 2019-11-22T074034Z_1_LYNXMPEFAL0JB-OZABS_RTROPTP_3_OZABS-UK-SAFRICA-MARKETS.JPG
[image_caption] => FILE PHOTO: South African Rand coins are seen in this photo illustration
[date] => 2019-11-22
[tdate] => 2019-11-22 07:50:02