South African rand firms as markets await jobs data
- The rand traded at 15.93 against the dollar , about 0.2% firmer than its previous close
JOHANNESBURG: The South African rand was stronger in early trading on Monday, as investors await employment data that could provide a clearer read on the economy’s underlying health.
At 0715 GMT the rand traded at 15.93 against the dollar , about 0.2% firmer than its previous close.
“Not much directional momentum to speak of in the USD or the USD-ZAR markets. Both traded in a relatively tight range last week and appear to be waiting for a catalyst to drive fresh direction,” ETM Analytics said in a research note.
Investors will turn to South Africa’s fourth-quarter 2025 employment data on Tuesday, with ETM Analytics noting hopes that the unemployment rate will ease slightly from the 31.9% recorded in Q3.
The figures “will offer investors a fresh perspective on the real state of the economy. It will inject a dose of context and reality, following the latest State of the Nation Address,” ETM Analytics said.
President Cyril Ramaphosa said in his address to parliament on Thursday that South Africa will deploy the army to fight organised crime and lay criminal charges against officials who fail to deliver water to communities.
Investor attention will then turn to January inflation data and December retail sales numbers on Wednesday.
South Africa’s benchmark 2035 government bond was firmer in early deals, as the yield fell 2.5 basis points to 7.94%.
Comments