South African rand weaker before Q1 current account data
JOHANNESBURG, June 5 (Reuters) - The South African rand was weaker in early trade on Thursday, ahead of local first-quarter current account data.
At 0551 GMT the rand traded at 17.8425 against the dollar , about 0.2% weaker than Wednesday's close.
The South African Reserve Bank will publish the country's first-quarter current account data (ZACACT=ECI), opens new tab at 0900 GMT. Analysts polled by Reuters expect a deficit of 0.9%, wider than the 0.4% deficit reported in the previous quarter.
Nedbank economists in a research note also forecast a wider shortfall, saying the first three months of 2025 likely recorded a smaller trade surplus as exports slowed slightly and imports increased.
"The non-trade deficit probably also deteriorated as the rise in income receipts failed to offset the higher income payments," said the note.
South Africa's benchmark 2035 government bond was marginally stronger in early deals, as the yield fell 0.9 basis points to 9.991%.
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