South African rand edges up ahead of local mining data

JOHANNESBURG, Oct 13 (Reuters) — The South African rand edged up in early trade on Tuesday as investors awaited domestic mining production data, while markets looked ahead to US inflation figures for fresh signals on the Federal Reserve's interest-rate trajectory. At 0630 GMT, the rand traded at 16.5150 against the dollar, about 0.2% firmer than its previous close. Statistics South Africa is due to publish August mining production data at 0930 GMT, with economists expecting another contraction after output fell 7.5% year on year in July. "We expect mining production to remain in contraction, mainly reflecting elevated domestic input costs, softer commodity prices in some key segments and subdued global demand," Nedbank economists said in a note. The dollar index was down, lending support to the rand, while oil prices fell as traders assessed supply risks following attacks on Saudi Arabia and weighed the prospect of additional diesel supplies from Russia. Investors are also focused on Wednesday's US Consumer Price Index report, one of the last major data releases before the Federal Reserve's late-October policy meeting. Like other risk-sensitive currencies, the rand often takes its