Ahead of the announcement of important domestic mining output and unemployment statistics on Tuesday, the South African rand remained stable in early trading.

The rand was up 0.2% from Monday’s closing level, trading at 17.74 against the US dollar at 06:18 GMT. Data At 9:30 GMT, South Africa is anticipated to disclose its second-quarter unemployment statistics and June mining output figures.

According to Reuters’ survey of analysts, mining production increased by 0.2% year over year in May and is expected to climb by 1.4% in June.

According to projections, the jobless rate in the most industrialized country in Africa increased marginally to 33.0% in the second quarter from 32.9% in the first.

U.S. inflation data that is expected to be released at 12:30 GMT is also influencing mood in the global market because it may offer new clues about the Federal Reserve’s forecast for interest rate cuts.

The rand, like other risk-sensitive currencies, frequently responds to events in the world economy, especially those involving the monetary policy and economic data of the United States.

In the meantime, a basket of major currencies showed no movement versus the U.S. dollar.

In early trading, there was also no movement in South Africa’s benchmark 2035 government bond, with the yield rising by half a basis point to 9.675%. Before local mining and jobs data, South Africa was stable.