JOHANNESBURG: South Africa's rand was steady against the dollar on Tuesday ahead of a strike in the gold sector and a week of key data releases in the United States.
The rand was at 10.2650 to the dollar at 0556 GMT, little changed from its close in New York on Monday.
The National Union of Mineworkers (NUM), which represents about two-thirds of more than 120,000 unionised gold miners in Africa's biggest economy, is set to strike from Tuesday. The shutdown could cost South Africa more than $35 million a day in lost output.
However, concerns about labour unrest in other sectors were eased on Monday when workers at petrol stations and car dealerships postponed their planned stoppage for a week.
A walkout by clothing and textile workers was also averted after a wage deal was reached, although a strike in the car manufacturing industry continues.
Trading is expected to be cautious ahead of the release of US non-farm payrolls data on Friday. Other data releases this week from the world's top economy will also be closely watched, including trade numbers, jobless claims and services PMI.
"There is potential for volatility to pick up around the US data releases this week and the rand is vulnerable to this as foreign outflows accelerate," according to a Tradition Analytics morning note.
Government bond yields edged up, gaining 4 basis points on the 2026 paper to 8.48 percent and 2 basis points on the 2015 instrument to 6.47 percent.
South Africa's Treasury will auction 2.35 billion rand of its 2037, 2041 and 2048 government bonds at 0900 GMT.
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