US and China tensions continues to grab the headlines, despite disappointing US jobs data Friday.
The US created 103k jobs in March, a far cry from the expected 188k, with unemployment remaining at 4.1%. Emerging markets have recovered slightly, with the rand hugging 12/$. President Trump called China’s bluff over the weekend, threatening another $100bn in tariffs.
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China’s previously announced tariff on US products came into effect yesterday with more than 120 US products being affected.
The introduction of the 15% tariff could spark fresh fears of a trade war amongst global markets. On the topic of 15%, yesterday also saw the increase of VAT and with fuel levies set to………
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The rand remains firm and opens the day below 11.80/$, spurred on by pro-rand events which transpired yesterday.
SA’s January manufacturing output rose by 2.5%, supporting the expectation that the domestic economy is gaining momentum.
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