South African rand extends losses before local economic releases

Business Recorder reported that the South African rand slipped further early on Tuesday, building on the prior day's decline, as costlier crude weighed on sentiment. At 0625 GMT the currency was quoted at 16.43 per dollar, about 0.1% below its earlier close. The greenback was little changed against a basket of currencies, while oil gained for a second consecutive session on continuing anxiety about supply problems in the Middle East.

Investors were looking to local economic data for clues on how Africa's biggest economy is faring. The Reserve Bank is expected to publish its quarterly bulletin around 0800 GMT, covering second quarter foreign direct investment and portfolio flows. Nedbank economists said household finances appeared to have held up despite lingering worries about the energy shock. Statistics South Africa's formal sector employment figures, which exclude agriculture, are due around 0930 GMT.

South Africa's 2035 benchmark government bond gained ground in early deals. Its yield dropped 2.5 basis points to 8.89%.