Trade report 21/06/2013
The dependence of financial markets on the behavior of central banks became abundantly clear yesterday. We have known for some time that the accommodative stance of the central banks would cause distortions the financial markets, but the scale of these distortions are only now becoming clear. There is not much data scheduled for release today and could see some calm return. The USD-ZAR is expected to trade at10.15-10.3000.
In international news business surveys released on Thursday showed that the slump in the Eurozone private –sector eased more the expected in June, but a continued reduction in new orders indicates that a full recovery is not yet in the cards. Markit’s flash eurozone composite purchasing managers index (PMI), a reliable economic growth indicator for the bloc, rose to 48.9 in June from May’s 47.7.
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