JOHANNESBURG, Aug 16 Reuters The South African rand inched up in early trade on Wednesday, reversing some of the previous day39;s losses, before the release of retail sales data.

At 0708 GMT, the rand traded at 19.1125 against the dollar , about 0.1 stronger than its previous close.

The dollar last traded around 0.1 weaker against a basket of global currencies.

Statistics South Africa will publish June retail sales figures at 1100 GMT, with analysts polled by Reuters expecting a decline of 0.2 year on year.

Retail is vital to a consumptiondriven economy such as South Africa and has been weighed down by the costofliving crisis, ETM Analytics said in a research note.

Retail sales have contracted in annual terms in every month since December 2022, with rolling power blackouts a contributing factor.

But an easing in the intensity of the power cuts in June may have provided some support to sales, ETM Analytics added.

South Africa39;s benchmark 2030 government bond was stronger in early deals, with the yield down 2 basis points to 10.335.

Reporting by Tannur Anders Editing by Alexander Winning

Source Reuters