JOHANNESBURG, Feb 13 (Reuters) - South Africa's rand weakened on Friday, pressured by an overnight drop in commodity prices after strong U.S. labour data dampened speculation of near-term Federal Reserve rate cuts.
At 1443 GMT, the rand traded at 16.02 against the dollar, down roughly 0.4% from Thursday's close.
"Yesterday's retreat in commodities such as gold, silver, and platinum appears to be the primary driver of this move, with the USD continuing to trade in a tight range and offering little directional momentum," ETM Analytics said in a research note.
President Cyril Ramaphosa, in his annual address to parliament on Thursday, pledged to deploy the army to combat organised crime and file charges against municipal officials who fail to deliver water to communities.
ETM Analytics said the positive reception to Ramaphosa's remarks could bolster sentiment towards the rand.
On the Johannesburg Stock Exchange, the Top-40 index fell 1.2%.
South Africa's benchmark 2035 government bond also weakened, with the yield up 2 basis points to 7.98%.
Next week, local attention will turn to fourth quarter unemployment figures on Tuesday, January inflation data and December retail sales numbers on Wednesday.
"We expect the QLFS to show the unemployment rate holding close to 32% in Q4, currently at 31.9%. Domestically oriented industries are likely to have benefited from consumer spending, easing logistical constraints and a more stable electricity supply," Nedbank economists wrote in a research note.
(Reporting by Sfundo Parakozov and Anathi Madubela;Editing by Mark Potter and Anil D'Silva)
