Rand weaker against the dollar

Trade report 13/05/2013

With very little domestic data planned to be released today it leaves investors to look toward the release of advanced US retail sales numbers. These numbers will give investors insight into whether consumer demand is slowly starting to return. The USD-ZAR is expected to trade at 9.10-9.2000 today.

News in Africa is that WEF’s chief economist, Jennifer Blanke, made the point that 14 of the bottom 20 countries on the WEF and World Bank’s current competitive ranking are African nations. She went on to say that most of Africa’s economic boom has been because of the continents rich natural resources. The commodity boom would not last forever and the sustainability of the boom is dependent on the competitiveness of African economies.

In international news, on Sunday a senior British minister said he would support a decision for Britain to exit from the European Union (EU) if they were called to vote on the matter. This as Prime Minister David Cameron faces an uprising over Europe from lawmakers in his own party

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