South African rand steady after producer inflation, trade data
Updates prices
JOHANNESBURG, Oct 31 (Reuters) -South Africa's rand was broadly steady on Thursday following the release of local producer inflation and trade balance data, a day after the finance minister delivered the mid-term budget.
At 1507 GMT, the rand traded at 17.6725 against the U.S. dollar ZAR=D3, not far from its previous close.
The dollar =USD last traded about 0.07% stronger against a basket of currencies.
Statistics South Africa earlier said the country's producer inflation fell to 1.0% year on year in September from 2.8% in August, while revenue service figures showed a trade surplus of 12.84 billion rand ($727 million) last month.
Finance Minister Enoch Godongwana's medium-term budget policy statement on Wednesday showed that wider budget deficits and higher debt are expected in South Africa over the next three years.
"The rand initially lost some ground post-MTBPS, but this reaction was largely overshadowed by a stronger dollar," said Andre Cilliers, currency strategist at TreasuryONE.
"The currency remains sensitive to global dollar movements and domestic fiscal signals," Cilliers added.
On the stock market, the Top-40 .JTOPI index closed about 1.7% lower.
South Africa's benchmark 2030 government bond ZAR2030= was weaker, with the yield up 3 basis points to 9.315%.
Reporting by Tannur Anders and Bhargav Acharya; Editing by Sumana Nandy and Jan Harvey
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