JOHANNESBURG, Feb 16 (Reuters) – The South African rand softened on Monday, as investors awaited employment data that could provide a clearer read on the economy’s underlying health.
At 1506 GMT the rand traded at 15.99 against the dollar , 0.2% weaker 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 (ZAUNR=ECI), opens new tab 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 (ZACPIY=ECI), opens new tab and December retail sales numbers (ZARET=ECI), opens new tab on Wednesday.
On the Johannesburg Stock Exchange, the Top-40 index (.JTOPI), opens new tab was last up 0.3%.
South Africa’s benchmark 2035 government bond strengthened, as the yield fell 2.5 basis points to 7.94%.
Read More: South African president pledges focus on crime and water crises
