South African rand firms ahead of key manufacturing data

The South African rand firmed in early trade on Thursday, 9 July 2026 ahead of local manufacturing production data due later in the session, even as oil prices rose and the dollar remained firm following renewed US-Iran tensions.

Source: Reuters.

• At 0624 GMT, the rand traded at 16.3450 against the dollar, about 0.5% up from its previous close.

• Statistics South Africa will publish May manufacturing output data at 1100 GMT, offering investors clues on the health of Africa's most industrialised economy.

• Economists polled expect manufacturing output to have fallen 3.2% year-on-year. Nedbank economists forecast a 3% contraction.

• "The sector continues to grapple with high domestic cost structures, caused by inefficient and expensive general economic infrastructure, which has systematically eroded the sector's price competitiveness," Nedbank economists said in a research note, adding that manufacturers have also had to absorb higher US tariffs and the recent surge in local fuel prices.

• South Africa's benchmark 2035 government bond was firmer in early deals, as the yield fell 4.5 basis points to 8.33%.