South African rand slightly firmer before jobs data
- The rand traded at 15.12 against the dollar, roughly 0.1% stronger than its previous close and adding to gains made on Monday
JOHANNESBURG: The South African rand firmed slightly early on Tuesday, ahead of the release of second-quarter unemployment data.
At 0725 GMT, the rand traded at 15.12 against the dollar, roughly 0.1% stronger than its previous close and adding to gains made on Monday.
Johannesburg-listed stocks opened higher, with the Top-40 index up around 1.1%.
The statistics agency will release jobs data for April-June around 0930 GMT. South Africa's composite leading business cycle indicator fell by 2.3% in June, central bank data showed earlier.
Investors are watching both releases for clues on how quickly Africa's most industrialised economy is recovering from the COVID-19 pandemic.
The rand was supported for a second day as gains in global stock markets lifted risk appetite more broadly, with the dollar bruised following its sharpest one-day fall since May.
Later in the week investor attention will turn to the US Federal Reserve's Jackson Hole symposium that could map out an end to US pandemic-era stimulus.
South African government bonds were a touch weaker early on Tuesday, with the yield on the 2030 instrument rising 0.5 basis point to 8.885%.
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