South Africa's rand firmed early on Wednesday, ahead of domestic retail sales figures and a U.S. inflation report.

At 0724 GMT, the rand traded at 18.3675 against the dollar , 0.14% stronger than its previous close.

The dollar index was last trading down 0.15% against a basket of currencies.

"The April US CPI print will provide fresh insight into consumer price pressure in the United States and possibly shed more light on the timing of possible rate cuts by the US Fed," ETM Analytics said in a research note.

South African investor focus will also be on March retail sales figures due at 1100 GMT.

On the stock market, the Top-40 and the broader all-share indices were both about 0.6% higher in early trade.

South Africa's benchmark 2030 government bond was stronger in early deals, with the yield down 3.5 basis points at 10.480%. (Reporting by Bhargav Acharya; Editing by Clarence Fernandez)