South African rand little changed in early trade

The South African rand was steady against the dollar early on Tuesday, with trading volumes slow because of the previous day’s US public holiday.

At 0635 GMT the rand traded at 16.0250 against the dollar, 0.12% stronger than its previous close.

The dollar index, which tracks the greenback against six other major currencies, weakend slightly to 104.32.

“It was a slow start to the new week as a lack of market-moving data releases and thin liquidity conditions due to a US public holiday kept traders on the sidelines,” ETM Analytics said in a research note.

South African rand flat on caution ahead of US jobs data

South Africa’s central bank is due on Tuesday to publish its composite business cycle indicator, which collects data including vehicle sales, business confidence and money supply in Africa’s most industrialised nation.

The government’s benchmark 2030 bond was stable at 10.240%.