Monday 29 April 2013

Rand shows no clear signs of directional momentum

Trade report 29/04/2013

Gold and Platinum prices are both presenting a marginally firmer bias and aren’t showing reason as to why the ZAR should weaken significantly during the course of the week. The USD-ZAR is expected to trade at 9.05-9.1500 today.

The Department of Energy’s Central Energy Fund announced on Friday that the retail price of petrol will go down with 73c/l and sulphur diesel will go down with 56c/l from Wednesday May 1. The lower basic fuel price for petrol, diesel and illuminating paraffin has been help by a better Rand Dollar exchange rate. 

By the end of 2012 the Netherlands and Luxembourg had booked foreign direct investment (FDI) of $5.8tn. This is more than the UK, US and Germany combined and is sure to fuel controversy over aggressive corporate tax policies. 

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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