SA extends trade surplus

South Africa recorded an R11,4-billion trade surplus in March, continuing the trend of strong net inflows into SA.
The rand closed weaker on Friday despite the surplus, as fears mounted of a US Government shutdown.

As expected, US lawmakers reached a $1-trillion budget deal, which will keep the economy ticking until September.

The agreement should give the rand breathing room for strength today. It’s a busy 4-day week, with the US Fed statement and local manufacturing data out tomorrow and US job numbers the highlight out on Friday.