Forex Investment and Currency Trading

South Africa Retail sales grew by 2.5% yoy in February from upward revised 0.7% in January. February gains were probably driven by the leap year effect. However, the trend in consumer demand has clearly weakened since early 2007, with the 6-month moving average at a subdued 1.0%. Retail sales will likely remain soft in the months ahead, consistent with a 4-year low consumer confidence and rising interest rates environment.
China The National Bureau of Statistics (NBS) announced that 1Q08 GDP rose by 10.6% yoy, stronger than our forecast but a moderation from 4Q07 growth at 11.2%. The NBS attributed the slower [...]

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