A firmer rand was little affected by worse-than-expected jobless data out from the US on Friday, which revealed a US unemployment rate of 10.2 percent in October, from 9.8 percent in September.

At 3.52pm the rand was bid at 7.5863 to the dollar from 7.5778 at its previous close. It was bid at 11.2355 to the euro from its previous close of 11.2683 and was at 12.5310 against sterling from 12.5575.

The euro was bid at US$1.4828 from US$1.4871 overnight.

A local trader said: "Jobless claims data came in much worse than expected, which took the steam out of the Dow. However the local currency appears to be holding up pretty well, thanks to inflated gold prices.

"We will, however, continue to track the Dow," he said.

Dow Jones Newswires reports that the euro dropped against the dollar on Friday after disappointing US unemployment data cast doubt over the pace of the global economic recovery.

The euro sank to a low of US$1.4821 in the wake of the report, from US$1.4861 just ahead of the data, bouncing around in choppy trade.

October payrolls declined a larger-than-expected 190 000, though September job losses were revised to 219 000 from an originally reported 263 000. The unemployment rate shot to its highest level in 26 years, to 10.2 percent in October, from 9.8 percent in September.

Analysts had expected a loss of 175 000 jobs, and an unemployment rate of 9.9 percent.

Early rally fades; eye on rand, Eskom

Bonds were in the black by the late afternoon on Friday, but the rally seen in early trade had died down to a whimper. The strong rand remains key, but a number of concerns – now including the ongoing debacle at Eskom – are weighing on sentiment.

By 4.04pm the short-term government R154 bond was bid at 7.045 percent from a previous close of 7.040 percent. The medium-term R157 was at 8.305 percent from 8.350 percent, while the long-term R186 was at 8.900 percent from 8.955 percent.

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