Trade report 16/07/2013
The rand looked steady and set for a firmer session with emerging markets supported by views that the US Federal Reserve will maintain monetary easing. The rand has managed to open below the psychologically key R10 level for two sessions, signaling some strength in the currency. Developments in the mining industry still continue to be a big concern as wage negotiations are now underway. The USD-ZAR is expected to trade at 9.80-9.9500.
The SA Institute of Race Relations (Sairr) said on Monday that the National Development Plan (NDP) is trying to do too much and its costly ambitions are not talked over. "It reads as if various government departments have provided wish-lists without much attempt to pull them all together, but one thing the NDP does not do is put a price tag on all the wish lists it incorporates and endorses." Sairr said in the July edition its monthly magazine.
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