The rand has shown some mighty strength against the US dollar, pulling back to levels as low as R14.07. A 20,000 person strike in the petroleum-related sector commenced yesterday in South Africa. SA unemployment numbers came in slightly stronger at 26.6% from 26.7% for Q2. The main sectors adding jobs to the SA market during the second quarter were the manufacturing and private household sectors. President Obama handed over the Democratic Party’s baton to the first ever female president nominee, Hilary Clinton, last night. Germany added 7,000 more jobs to their jobs market during July. In a new wave of stimulus, the Bank of Japan has turned to the purchasing of exchange traded funds (ETF’s) instead of the traditional bond purchases in its monetary stimulus program. Oil prices have slumped this week from $45.00 to $42.34 per barrel.
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Real wage change | Cannon Asset Managers research