"The first full trading week of the year is one filled with data releases, including the Federal Open Market Committee minutes on Wednesday," said Andre Cilliers, Currency Strategist at TreasuryONE.

Other data releases this week include the United States (US) services purchasing managers index, JOLTs job openings report, jobless claims data and key payrolls and unemployment figures.

Like other risk-sensitive currencies, the rand often takes cues from global drivers such as US economic data in the absence of major local factors.

Domestically, SA's private sector activity contracted in December for the first time since August, with muted demand and rising inflationary pressure weighing on growth, a survey showed on Monday.

--Reuters--