A number of factors should see the ZAR consolidate at
stronger levels, ranging from the decision of the European Central Bank to cut
interest rates yesterday, the small improvement in commodity prices and the
slight weakening in the JPY.
The platinum market is expected to have a "marginal
surplus" this year after slipping into a deficit in 2012 for the first
time in eight years because of strike action in South Africa. SA is the world’s
largest producer of platinum used in jewellery and industrial applications.
Thursday saw European Central Bank (ECB) cut main interest
rates. Not all bank officials were positive about the decision and highlighted
the constraints to further action. The ECB lowered its main refinancing rate by
a quarter percentage point to 0.50 per cent.
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
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