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Johannnesburg - The rand was weaker against the dollar on Tuesday and is likely to remain under pressure this week ahead of the release of local employment and trade data.
The rand was at R9.82/$ at 07:59, down 0.4% from its close in New York on Monday.
Statistics South Africa is due to release its Quarterly Labour Force Survey for the second quarter at 11:30, giving a picture of employment in Africa's largest economy.
The local unemployment rate rose to 25.2% of the labour force in the first quarter of 2013, compared with 24.9% in the final quarter of last year, Stats SA said in May.
The South African Revenue Service will release trade data for June on Wednesday and the market will also be watching US non-farm payrolls numbers due on Friday.
"Considering that we believe the risk lies in a better-than-expected US employment report on Friday and another wide domestic trade deficit on Wednesday, we still favour fading rand rallies over the coming week," Absa Capital analysts wrote in a morning note.
They added that net selling of South African bonds and equities over the past few days could keep the rand on the back foot.
"Hence, we maintain that the rand remains vulnerable in the short term," the note said.
Government bonds firmed slightly, with the yield on the 2026 paper down 1.5 basis points to 8.19% and that on the 2015 issue 3.5 basis points lower at 6.23%.
South Africa's Treasury will sell R2.35bn ($240m) in 2023, 2037 and 2048 government bonds at 11:00.
The rand was at R9.82/$ at 07:59, down 0.4% from its close in New York on Monday.
Statistics South Africa is due to release its Quarterly Labour Force Survey for the second quarter at 11:30, giving a picture of employment in Africa's largest economy.
The local unemployment rate rose to 25.2% of the labour force in the first quarter of 2013, compared with 24.9% in the final quarter of last year, Stats SA said in May.
The South African Revenue Service will release trade data for June on Wednesday and the market will also be watching US non-farm payrolls numbers due on Friday.
"Considering that we believe the risk lies in a better-than-expected US employment report on Friday and another wide domestic trade deficit on Wednesday, we still favour fading rand rallies over the coming week," Absa Capital analysts wrote in a morning note.
They added that net selling of South African bonds and equities over the past few days could keep the rand on the back foot.
"Hence, we maintain that the rand remains vulnerable in the short term," the note said.
Government bonds firmed slightly, with the yield on the 2026 paper down 1.5 basis points to 8.19% and that on the 2015 issue 3.5 basis points lower at 6.23%.
South Africa's Treasury will sell R2.35bn ($240m) in 2023, 2037 and 2048 government bonds at 11:00.
