Trade report 04/06/2013
The rand was firmer in early trade on Thursday, supported by the short-term flows ahead of the end of the financial quarter, but traders said the underlying sentiment remained bearish. The highlights of the day for traders will be the May producer price inflation data and the results of the inflation expectation survey from the Bureau for Economic Research. The USD-ZAR is expected to trade at 10.00-10.20 today.
Whilst peaking at a FM top Companies awards function Reserve Bank governor Gill Marcus said on Tuesday that if the economic environment does not get any worse it will most likely still take a number of years before output gaps are fully closed and the world is back to normal growth. “The economic environment is a difficult one. The world is in its sixth year of crisis: a crisis that has repeatedly mutated‚ shifting its epicentre from a sub-prime crisis to systemic banking crisis; a liquidity‚ fiscal deficit and sovereign debt crisis,” said Marcus.
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