CD South Africa: Local data threat

The stage is set for a relatively calm start to the week for global markets as the bond rout seems to have ground to a halt. The local unit will be eyeing a break south of 13.50/€ and 11.80/$ this week.

However, the rand is unlikely to have an easy ride with local data in the spotlight. On the data calendar we see the release of SA unemployment rate (19/05), inflation and retail sales (20/05), and the all-important interest rate decision (21/05). Risk for the rand is as clear as day and there could be room for movement either way. Have a great week folks!

Commentary by Justin Lodewyk