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Johannesburg - The rand weakened against the dollar early on Tuesday but stayed within a recent range as investors waited for local data and looked towards the US Federal Reserve's interest rate decision this week.
At 10:48, the rand was down 0.36% against the dollar at R9.8610, weakening within a range set last week.
South African Reserve Bank (Sarb) data released at 08:00 showed growth in private sector credit demand slowed to 7.55% in September, while money supply quickened to 7.03%.
Also on the local data calendar on Tuesday is third quarter jobless numbers, due at 11:30. The unemployment rate stood at 25.6% in the second quarter.
Dealers said negative perceptions of ongoing mining labour unrest was likely to weigh on risk sentiment during the session.
The Association of Mineworkers and Construction Union (Amcu) said late on Monday its members had voted to strike at Impala Platinum, but it would not immediately give the company a 48-hour notice, suggesting a stoppage might still be averted.
Investors are also focused on a meeting of the US Federal Reserve which begins later in the session, where the expectation is that the Fed will keep its bond-buying programme unchanged until next year.
Yields on South African government bonds steadied at 7.95% on the benchmark 2026 issue and 5.86% on the 2015 note.
The Treasury will sell R2.35bn in 2023, 2031 and 2037 paper in the session. Results are due after auction closes at 11:00.
Sarb Governor Gill Marcus is due to give a speech at a high school at around 18:30.
At 10:48, the rand was down 0.36% against the dollar at R9.8610, weakening within a range set last week.
South African Reserve Bank (Sarb) data released at 08:00 showed growth in private sector credit demand slowed to 7.55% in September, while money supply quickened to 7.03%.
Also on the local data calendar on Tuesday is third quarter jobless numbers, due at 11:30. The unemployment rate stood at 25.6% in the second quarter.
Dealers said negative perceptions of ongoing mining labour unrest was likely to weigh on risk sentiment during the session.
The Association of Mineworkers and Construction Union (Amcu) said late on Monday its members had voted to strike at Impala Platinum, but it would not immediately give the company a 48-hour notice, suggesting a stoppage might still be averted.
Investors are also focused on a meeting of the US Federal Reserve which begins later in the session, where the expectation is that the Fed will keep its bond-buying programme unchanged until next year.
Yields on South African government bonds steadied at 7.95% on the benchmark 2026 issue and 5.86% on the 2015 note.
The Treasury will sell R2.35bn in 2023, 2031 and 2037 paper in the session. Results are due after auction closes at 11:00.
Sarb Governor Gill Marcus is due to give a speech at a high school at around 18:30.
