JOHANNESBURG, July 30 (Reuters) – The South African rand pared the previous session’s losses in early trade on Tuesday, as markets waited on the outcome of a U.S. Federal Reserve meeting on Wednesday which could give hints on its rate-cut timeline.

At 0729 GMT, the rand traded at 18.38 against the dollar, about 0.3% stronger than its previous close, after tumbling against a stronger greenback on Monday.

Investors will focus on the Fed on Wednesday for insights into the future interest rate path in the world’s biggest economy. The Fed is expected to leave interest rates unchanged, but markets are betting on a cut at its September meeting.

Like other risk-sensitive currencies, the rand often takes cues from global drivers such as U.S. monetary policy in addition to domestic factors.

South Africa’s National Treasury will publish the country’s budget balance figures for June later on Tuesday.

On the Johannesburg Stock Exchange, the Top-40 index eased about 0.1% in early trade. South Africa’s benchmark 2030 government bond was slightly stronger, with the yield down 1.5 basis points at 9.49%.

(Reporting by Tannur Anders; Editing by Kirsten Donovan)