The South African rand weakened in early trade on Tuesday ahead of the release of ​labour market data, with traders expecting the ‌unemployment rate to have remained largely unchanged in the first quarter of 2026.

• At 0500 GMT the rand traded at 16.48 ​against the dollar , about 0.2% down from ​its previous close.
  
• Domestic investors are awaiting the unemployment ⁠data (ZAUNR=ECI), due at 0900 GMT, to gauge the ​condition of the labour market of Africa’s most industrialised ​economy.
  
• Lara Hodes, an economist at Investec, said unemployment will remain largely unchanged. However, she added, global and domestic economic uncertainty ​likely weighed on hiring.
  
• The country’s official jobless rate ​currently stands at 31.4%, one of the highest globally.
  
• Nedbank economists expect the ‌Q1 ⁠unemployment rate to show a modest deterioration as the sluggish pace of economic activity continues to constrain the economy’s ability to absorb a growing labour force.
  
• Nedbank ​said uncertainty ​stemming from ⁠U.S. tariffs and the Middle East conflict “likely weighed on business confidence. This environment ​appears to have encouraged firms to adopt ​a ⁠cautious, wait-and-see stance, delaying significant capital expenditure decisions, including hiring.”
  
• The country’s statistics agency will publish manufacturing output (ZAMAN=ECI)at ⁠1100 ​GMT, with analysts polled by Reuters ​expecting a modest 0.3% increase.
  
• South Africa’s benchmark 2035 government bond was ​flat in early deals at 8.695%.

SOURCE: Reporting by Anathi Madubela/ REUTERS