South African rand firms ahead of local economic data, FOMC

South Africa's rand firmed early on Monday ahead of local economic data releases and the Federal Reserve's policy review later in the week.

At 0726 GMT, the rand traded at 18.7525 against the dollar USDZAR, 0.29% stronger than its previous close.

The rand ended last week on a higher note after analysts said a recent Ipsos poll suggested there was no alternative to the governing African National Congress, despite a fall in the party's popular support.

South African investors will turn their attention toward March money supply, trade and budget balance figures on Tuesday for clues on the health of the economy.

The dollar index DXY was last trading down 0.33% against a basket of currencies.

Global market focus will be on the U.S. Federal Open Market Committee (FOMC) meeting statement on Wednesday with investors already anticipating a delay in its rate cuts.

On the stock market, the Top-40 SA40 index and the broader all-share JSE:J203 index were both up about 0.5% in early trade.

South Africa's benchmark 2030 government bond (ZAR2030=) was stronger in early deals, with the yield down 4 basis points to 10.745%.