JOHANNESBURG, South Africa – The South African rand edged up in early trade on Tuesday, supported by stronger precious metal prices ahead of local central bank data expected to offer insight into the country’s economic outlook.

At 7.56AM CAT, the rand was trading at 16.0150 per dollar, roughly up 0.2 percent on Monday’s close.

Gold and other key precious metal exports such as platinum hit record highs on Monday, helping the rand break through 16 to the dollar for the first time since June 2022.

The yellow metal rose on Tuesday but platinum fell back.

On Tuesday, the South African Reserve Bank will publish its composite leading business cycle indicator for November, which collects data including vehicle sales, business confidence and money supply in Africa’s most industrialised nation.

Investors’ focus will pivot to South Africa’s first interest rate announcement of 2026 on Thursday, which could be a close call as 18 of 26 analysts polled by Reuters expect the central bank to leave its repo rate unchanged, but eight predict a 25-basis-point rate cut to 6.50 percent.

Other domestic releases this week include producer inflation numbers on Thursday, while money supply, private sector credit, trade balance and budget balance figures are all due on Friday.

South Africa’s benchmark 2035 government bond was flat in early deals, with the yield at 8.11 percent. – Reuters