JOHANNESBURG, June 24 (Reuters) – The South African rand firmed against a weaker dollar in early trade on Tuesday, after U.S. President Donald Trump’s announcement of an Israel-Iran ceasefire and before the release of domestic leading indicator and formal sector employment data.

The risk-sensitive local currency has gained some ground after falling to a one-month low on Monday as uncertainty over the Middle East conflict hung over markets.

But at 0632 GMT the rand traded at 17.7575 against the dollar, roughly up 0.7% on Monday’s close and paring some of its losses.

Trump announced a ceasefire between Israel and Iran on Monday evening, news that sent investors cheering and sparked a risk rally across emerging market equities and currencies.

Domestic investors will focus on April’s business cycle leading indicator ZALEAD=ECI data at 0700 GMT, which collects data on vehicle sales, business confidence, money supply and other factors in Africa’s most industrialised economy.

The country’s statistics agency will release first-quarter formal employment figures shortly after, which exclude the agricultural sector.

In fixed income, government bonds also firmed in early deals. The yield for debt maturing in 2035 ZAR2035= fell 8.5 basis points to 9.975%.

(Reporting by Sfundo Parakozov; Editing by Jamie Freed)