The ZAR and other emerging market currencies have all performed impressively over the past week, the reason being the on-going effects of persistent JPY weakness. The USD-ZAR has gained support toward the 8.9500 mark and is expected to trade between 8.87 – 8.9800 today.
On Tuesday a key survey by the Bureau of Economic Research (BER) found that consumer confidence fell to a nine-year low in the first quarter of this year. The BER survey results only added to negative news on the retail sector and the mounting concern that economic growth could fall short of expectations this year.
When looking at the latest Chinese trade data one finds further
evidence of an uneven recovery in the global economy. China’s first quarter
trade results shows that trade with the US rose by 10.8 per cent from last year
to $118.2bn, yet trade between China and the EU fell 1.9per cent to $124.4bn from
a year earlier.
To read the full report visit the Currency Solutions website. Transferring funds out of South Africa/Money transfers into South Africa – Let one of our professional consultants at Currency Solutions assist you. To know more about how we can help you Contact Us.
To read the full report visit the Currency Solutions website. Transferring funds out of South Africa/Money transfers into South Africa – Let one of our professional consultants at Currency Solutions assist you. To know more about how we can help you Contact Us.
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