Market News

JOHANNESBURG, Nov 10 (Reuters) – South Africa’s rand held steady ahead of labour market data expected to show a modest rise in unemployment as a challenging operating environment weighed on economic activity in the third quarter of 2026.

• At 0610 GMT, the rand traded at 16.36 against the dollar, little changed from its previous close of 16.3828.
• Domestic investors await unemployment data, due at 0900 GMT, to gauge the condition of the labour market of Africa’s biggest economy.
• Elevated oil and fuel prices raised businesses’ input costs during the quarter, squeezing profits and dampening confidence in an already difficult operating environment, according to Nedbank economists.
• “Against the backdrop, companies may have adopted a more cautious approach to hiring, delaying expansion and recruitment plans,” the bank said.
• South Africa’s official jobless rate currently stands at 33.6%, one of the highest globally.
• The country’s statistics agency will publish manufacturing output at 1100 GMT. Analysts polled by Reuters expect output to have fallen 2% year-on-year in September, after a 4.3% drop in August.
• South Africa’s benchmark 2035 government bond was slightly firmer in early deals, as the yield fell 1.5 basis points to 8.25%.