Rand gets some relief before PMI numbers

The rand out-performed its emerging-market peers, gaining 0.2% to 11.0540 per dollar by 15:06 GMT. An index measuring a basket of EM currencies fell 0.42%, as the stronger dollar led investors to seek safer bets in the United States, putting pressure on emerging-market assets.

Market watchers expect US nonfarm payroll numbers due on Friday to show the world's largest economy remains in good health.

"Obviously, the US jobs report on Friday and even the ECB decision (on stimulus measures) on Thursday are events to look at," said Bart Stemmet, an analyst at NKC Independent Economists. "The rand should hold above 11.000 for the time being."

The rand tumbled to a two-week low of 11.0750 in the previous session after China reported factory activity unexpectedly fell to a five-month low in October, hurting the currencies of importers to the giant Asian economy.

Locally, HSBC releases its October Purchasing Manager's Index (PMI) survey on business activity on Wednesday at 0915 GMT. South African business activity expanded at its fastest rate in 21 months in September as new factory orders rose.

Yields on governments bonds were unchanged after edging lower at an auction earlier in the day, with the benchmark 2026 issue at 7.945%.