South African rand stable ahead of US-China trade talks
JOHANNESBURG, June 9 (Reuters) - The South African rand was steady in early trade on Monday, as markets awaited pivotal U.S.-China trade talks set to take place later in the day that could ease tensions between the two nations.
At 0621 GMT the rand traded at 17.7450 against the dollar , near Friday's closing level.
Three top aides of U.S. President Donald Trump will meet with their Chinese counterparts in London later in the day to discuss the trade dispute between the two countries, a standoff that has kept global markets on edge.
Like other risk-sensitive currencies, the rand often takes cues from global drivers like U.S. policy and economic data in addition to local factors.
Domestic investors this week will look to manufacturing (ZAMAN=ECI), opens new tab and mining (ZAMNG=ECI), opens new tab data to gauge the health of Africa's most industrialised economy.
Attention remains on the country's long-delayed budget after Finance Minister Enoch Godongwana, in his third attempt at passing it, made only minor adjustments to spending plans and deficit projections.
On Wednesday the National Assembly is expected to debate the revised fiscal framework adopted by a key parliamentary committee last week.
South Africa's benchmark 2035 government bond was also flat in early deals, with the yield at 10.075%.
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