Invest for the long-term, with the right asset mix A record maize season but the weather is still a concern Things to consider before taking a loan Tips for managing a new inheritance Does paying R extra on your bond matter? Apply for obligation free account and currency commentary. March 16th 2: Keep your finances in order. Only married people need life insurance One of the biggest misconceptions about life insurance is that if you are single, don't have children or still young, you do not need cover.
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Common myths about hospital cash plans. Do not underestimate the cost of private schooling. Offshore investing, a valuable tool for all. Agriculture proves to be a heavy lifter. Diminishing Musharaka, an alternative way to buy property. FNB's parent company FirstRand awarded short-term insurance licence.
Should you sell your investment property? FNB life surpasses 1 million funeral policy milestone. Key benefits of good debt. Factors to consider when ceding your life policy. FNB branches leading digital banking adoption. FNB produces strong results despite tough conditions. Is your life insurance enough to cover your family? Money mistakes wealthy people should avoid in marriage. Don't overlook the benefits of checking your bank statement.
How to trim down SME running costs. Do you really get what you need from your bank? Strongest Banking Brand in Africa. Factors to consider when buying a second house. Tips to help you prevent card fraud.
Current challenges faced by new franchisees. Top 5 tips to achieve financial independence. Home loan application is approved - what next? Questions to ask when taking out a funeral policy. Are your kids ready for their inheritance? Money mistakes the youth must avoid.
Principles of a successful scale up. What happens when you pass away without a will? Consumers in the dark about disability insurance. SA's first banking app now free across all networks. What documents do you need to open a bank account? Is fixing your home loan interest rate ideal? Tips to save on funeral insurance. International travel scams to look out for when traveling overseas.
Why SA needs more new franchises to create more jobs. Make saving part of your lifestyle. SA's low growth economy presents cashflow challenges for SMEs. Signs you are misusing your credit card. You are never too young to get life insurance. Five ways to be credit smart. Put in a little extra in your retirement savings.
The dti and FNB sign pledge to improve access to finance for black industrialists. Droplets of hope for the Western Cape dam levels. Keeping up with the banking needs of millennials. Pros and Cons of a joint home loan. Honey and the hive of concern.
Best way to keep a healthy bank account. The rise of women in franchising. A health cash plan can cover loss of income.
Don't let money be the end of your relationship. Building wealth through multiple properties. The Garden Route and Klein Karoo are gems for tourism business. Money tips for first-time international travellers.
What to consider when switching your home loan. Uphill ahead, but don't panic. DIY - budgeting on the go. The catch of the depreciating Rand and its impact on tourism. Disrupt or optimise - When to choose which approach to innovation. Building wealth through entrepreneurship. Become your own big 'investor'. Next generation of FNB-branded smartphones marks evolution of digital journey.
Do your bank's rewards pass the 'value test'? Going digital cuts the costs of starting and running a business. Manage your finances this spring. Macadamia, a dark horse in SA agriculture. Announcing the 6th Franchise Leadership Summit. Invest for the long-term, with the right asset mix. A record maize season but the weather is still a concern. Things to consider before taking a loan. Tips for managing a new inheritance. Does paying R extra on your bond matter?
Stress test the business before you incubate. SA's agricultural sector slowly bouncing back. Shop safely online with your credit card. Top tips, and cost effective international travel for Senior Adventurers. FNB innovation helps customers save R1 billion. What happens to life cover after divorce? Should you pay off your home loan early?
Finances should be a joint effort in a household. How do you handle money? Tips for travelling overseas during peak season. Overcome digital banking fraud this festive season. FNB repositions its investment offering. Update life cover when traveling abroad. Keep your finances in order. FNB taps into popular culture with new 'Akanamali' retail campaign.
Financial tips for surviving holiday season. FNB Connect wins another prestigious international award. FNB unveils affordable iPhone X deal. Manage your credit card digitally this festive season. Get a Will this festive season.
Take charge, bank digitally for less charges. This indicates that Freight forwarding and logistics works on a new set of rules in the 21st century, breaking with tradition may just be the only way to remain a player in a sector that has no borders. These 6 areas were recently discussed with stakeholders from the Logistics Industry where the focus was around some of the challenges as well as opportunities that currently exist in the Industry.
Adopting technology and a millennial mindset - Technology has made it easier and more cost effective to use specific tools to move freight. Making use of optimisation engines, routing and scheduling tools can ensure that cargo is distributed timely and with optimal capacity, helping to decrease the overall cost of moving goods between two points.
South Africa's infrastructure impeding competitiveness - There is a general lack of infrastructure which puts SA companies in the top end of pricing. Government initiatives such as the Durban Dig Out Port and Tambo Springs in Ekurhuleni are a step in the right direction; however, the predominant form of delivery mainly makes use of roads infrastructure as opposed to rail which is far more expensive.
Alignment between government and business - Better alignment between business and government could improve the speed and process of transfer of cargo.
Where you may find that customs makes use of cutting edge systems to ensure rapid clearance, other related stakeholders are either not using the same system or have no access to the existing system. This increases the time required to move cargo, it also increases opportunity for fraud and in the end, hits the respective business and consumers the hardest. Cost of physical logistics is too high - The size of Southern Africa means that the distances that cargo moves takes too long from point of departure to its final destination.
One of the major cost drivers is that Southern Africa uses road as opposed to rail. Over time the cost of fuel, toll gates, wear-and-tear of vehicle all summates to an expensive total cost of overall operations. If we are to compete globally, we may need to use countries such as the USA as case studies where freight also travels over land for a significant distance yet their costs are lower.
Industry collaboration needs to be considered more - As cargo vessels increase in size all the time, naturally it will become cheaper to move cargo from point to point due to shared costs for a single trip. A truck, in sharp contrast only carries one, maybe two containers, making this a lot more expensive. Both importers and exporters need to consider more consolidations.
Skills Development - If you consider that by Africa will have almost half of the world's population, then you see that the future of growth in this industry lies in being able to execute both cost and speed of delivery effectively to the rest of Africa, and doing so using new thinking that incorporates the use of technology.
It is important now and will remain so in the future to embrace the concept of "data mastering", which will ultimately determine the winners, moving away from a "cost-oriented" approach to a value-oriented one" concludes Sivalingum. A need exists for consumers to re-evaluate their lifestyles and make savings part of their daily routine. This simple principle should be ingrained in us from a very young age to ensure that we embrace a savings culture that can benefit us in the future,"" she adds.
Worrying about monthly expenses can lead to stress and a variety of other health problems like depression, anxiety to mention a few. Finding simple, new and innovative ways to save money can help you lead a longer, happier life," says Ochse. It requires time, effort, patience and dedication but at the end of the day it will be worth it," concludes Ochse. Managing investment risk while retaining access to the funds when they are needed, are also important considerations.
Secondly, Jacobs acknowledges that liquidity is a priority for most SMEs. He suggests that it should not come at the expense of growth meaning cash should be "parked" in an interest bearing savings or cash investment account that offers growth to curb the effects of inflation, while still giving instant or quick access to savings.
This term-based approach can be well suited as a way of growing cash available to the business that have a clear view of their timeline for future cash needs, which is why, for the SME that is unsure about exactly when it will need to access cash. Jacobs recommends finding a solution that offers quick access at no cost. He uses the recently launched FNB 48 Hour Cash Accelerator savings solutions as an example of a business savings solution designed specifically to balance the needs of having quick access to savings while enjoying healthy growth.
Jonathan de Beer, head of collections at FNB Credit Card, says a credit card can be quite convenient and rewarding if you need safe and instant access to cash. However, you can easily find yourself in an unnecessary financial predicament if you are not careful with your spending.
The first step is to list all your debt, spend carefully and only when it is absolutely necessary, formulate a realistic budget and stick to it. Lastly, try and pay a little extra towards your credit card debt every month.
Ryan Prozesky, CEO of FNB Value Banking Solutions, says in principle, choosing an ideal banking account for your needs, keeping abreast of fees and knowing what value you are getting from your bank should help you avoid unnecessary bank charges.
Choosing the right account - never choose a bank account merely on its monthly administration costs, rather base the decision on your transacting needs to avoid incurring additional charges. For example, on a pay as you use structured account you may be charged extra everytime you make a transaction, while on a bundle offering you are able to perform multiple or unlimited transactions without incurring additional charges.
A pay as you use structure would be best suited for a customer with a low number of monthly transactions, while bundle offerings are best suited for those with a higher number of monthly transactions.
Make sure that you chose a bundle with the most appropriate number of transactions included in the bundle, based on your monthly transactional needs.
Avoid using another bank's ATM - avoid withdrawing money at an ATM belonging to another bank as the costs are higher than using your bank's one.
Bank on digital channels - whenever possible try and use digital and electronic channels for transactions as these are usually free or attract lower costs compared to using a bank branch. In addition, digital channels offer you the convenience of performing your banking anywhere anytime; thereby saving you time and money by avoiding travelling to a branch.
Swiping your card - instead of withdrawing cash to purchase necessities rather swipe your card as it is safer than carrying cash.
Check whether your bank offers unlimited card swipes at no additional charge regardless of the amount. In addition, most banks' loyalty programs give customers rewards back for swiping their card. If you really do need cash, why not add it to your grocery list and withdraw from selected retailer till points. This transaction is usually cheaper than withdrawing from an ATM. Avoid penalty charges - always make sure there is sufficient money in your account to cover all purchases and transactions you make.
This will help you from incurring penalty charges when transactions fail. Overdraft facility fees - An overdraft facility helps meet those unexpected cashflow shortfalls and will help you avoid penalty fees due to insufficient funds. Although FNB only charges customers for having an overdraft facility when they use it, other banks may charge you a monthly fee for merely having the facility, even if you don't use it.
Bank Statements - if you have an email address, request your bank to rather email your statement to you instead of posting them. Not only will they arrive much sooner, but you will avoid any charges for postal statements that some banks may levy. If you need to check your transaction history, make use of your bank's digital channels to view your balance, transaction history or download your recent statements for free. If you need a physical copy of your bank statements avoid high fees by requesting these in branch; rather see if your bank offers the ability to print statements at selected ATM machines.
FNB offers you the ability to print your last three month's statements at over ATMs with Deposit machines around the country," says Prozesky. Take care of bank cards - be extra cautious with your bank cards as some banks will usually charge you a fee for replacing them.
Monthly caps - exceeding monthly caps for certain transactions may attract additional fees. For example, on certain account bundles, your bank may offer you a number or value of ATM withdrawals for free, with additional charges as soon as you exceed the limit. Lastly, don't ignore communication from your bank. It's important to thoroughly go through and understand these fee changes and how they impact the way you transact on a monthly basis," concludes Prozesky.
However, only about 3. Lee Bromfield, CEO of FNB Life, says most people who take out life cover mistakenly view disability insurance as an additional and unnecessary grudge purchase, until something tragic happens to them. Moreover, if you have a particular disorder that runs through your family and could potentially lead to some form of disability; it is all the more reason why you need this type of cover. Bromfield says the reason why consumers get it so wrong when it comes to disability cover is not being informed enough to realise the significant impact.
For example, if you suddenly have a stroke, are permanently disabled and can no longer work or take care of yourself, you may find yourself financially stranded. Even if you do have cover through your employer it may not be enough.
Alternatively, if you were to experience back problems and couldn't work for a period of six months or more you may need income to cater for the financial shortfall.
He says a common misconception held by consumers is that disabilities are usually work related and would normally be covered through the Workers Compensation Fund set up by the government. The danger with this notion is that many disabilities can occur outside of work leaving you and your family uninsured.
Taking out disability cover should not be seen as a tick box exercise," concludes Bromfield. FNB Life offers death, disability and critical illness cover, up to R million, R50 million and R5 million respectively. The National Development Plan estimates that South Africa needs to have 8 million active SME's in order to achieve set targets of creating 11 million jobs by Regardless of the current economic slowdown, we believe that SMEs still represent a massive growth opportunity.
Together with the IFC we can collaborate in crafting an era of economic and social development and help shape the county's growth prospects," concludes Vacy-Lyle. IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2, businesses worldwide, we use our six decades of experience to create opportunity where it's needed most. For more information, visit.
This follows an agreement with all major mobile network operators in South Africa to zero rate access to the FNB Banking App allowing all customers to use it at no cost.
Giuseppe Virgillito, FNB Digital spokesperson, says "Since launching the app six years ago, not only has it become the most downloaded, but also the popular banking app amongst consumers as recently rated in the SAcsi and Columinate SITEisfaction Index's The zero rating of the app is in line with our broader strategy to migrate customers to digital and electronic channels where a number of transactions and services are already offered free of charge," adds Virgillito.
The FNB Banking App not only offers customers convenience, but increased value through its industry leading features that caters for the basic and advanced banking transactions in the hands of customers. Furthermore, with fraud being a global concern for customers that use digital platforms, the latest version of the FNB Banking App boasts industry-leading security features. The industry first inContact solution has evolved to introduce Smart InContact, which allows customers to receive secure Online Banking transaction approvals on the FNB App which does not rely on SMS or email technology which could be intercepted by fraudsters.
The app also works with Online Banking to verify devices that customers use to transact on their respective profiles. Only verified devices with the app installed receive Smart inContact transaction approvals. Logins to Online Banking also trigger a Smart inContact notification for customers to be notified whenever their Online Banking is accessed. App users can also now authenticate themselves through Fingerprint ID available to both Android and iPhone owners, which uses a fingerprint sensor to verify the user before giving access to the account profile.
The app has also been ranked best in South Africa by international benchmark studies, such as MyPrivateBanking Research and Finalta where international banking experts rank the FNB Banking App as standing shoulder to shoulder with the best in the world.
It has seen the worst of the drought on record, dam levels remain low and the province has gone as far as implementing restrictions on water usage throughout the region.
Why do we need it to rain in the WC? The deciduous fruit industry, wine industry and increasingly the citrus industry is also setting base in the WC, these are all key export produce that contribute significantly to the overall agri-economy in South Africa.
Should any of these industries suffer, it becomes detrimental to the agricultural industry as a whole in South Africa and by extension, the local economy. What is the percentage impact on GDP contribution? How has the drought impacted employment numbers in the sector?
Due to possible lower production, less seasonal workers might be employed, with the obvious socio-economic consequences related to a decreased number of those employed. For Q1 there were employees in the agric sector in the WC. A large percentage of these are due to seasonality - It is however 5.
The WC has the biggest agricultural workforce in South Africa at What is the long term impact of the drought on both WC and the country? The WC is a central agricultural exports province and the drought, if not broken soon, will definitely impact negatively on the long term economic growth for both the province and the country's economy. The WC has recently had some rains; however, the drought has not been broken. A major contributing factor of the drought has had a negative impact on the wheat industry, seriously hampering supply, with the knock-on effect on wheat prices and possibly the bread price.
Although SA is a net importer of wheat, this might mean that we will have to import even more wheat than we normally do. Some of the losses in wheat production might be offset by increasing production in the Free State and Northern Cape.
Should agric suffer; the whole value-chain will suffer" concludes Maree. Johannesburg; 27 June - Opening a bank account is a hassle free process, but before a bank can initiate the account opening process, there are some important documents that are required. With the change of laws in South Africa, a South African identity document is no longer enough as the bank has to comply with laws such as the Financial Intelligence Centre Act FICA , which require banks to have the correct and up to date information for new and existing customers.
Here is a list of documents required before opening a bank account in South Africa:. Foreign Nationals who reside in South Africa can open bank accounts, but before the account opening process commences there's declaration they must sign. This is a list of the required documents:. The SA economy is proving resilient in the wake of the recent downgrades, the rand is slowly recovering and business seems to be weathering the storm, however, this should not stop businesses from diversifying both their business and investment portfolios.
The idiom "make hay whilst the sun shines" is the most relevant in this current economy. The reality is there is less money in the economy and debt is becoming more expensive to hold so most customers are decreasing their spend and credit exposure.
Through this process a company gains new customers, increasing its market base and also drives expansion success. A bigger customer base means an increased pool of business income, which in trying times is a saving grace because the business in effect has more than one stream of income.
This means that you have a direct channel to the consumer that costs less and provide the business with a new set of customers who are increasingly turning towards digital platforms for ordering products and services in SA.
Increasing the geographical reach increases the number of customers that can be reached. Creating variations increases the number of customers that your product can reach because price variation means a lot additional people can afford the product. For example a vertical integration will enable the business to control his product lifecycle where he will now be able to impact the raw materials being used or even the distribution channels used by his customers.
Save for a rainy day with Investing a portion of your profits on a monthly basis will allow you to build a nest egg that you can fall back on in the future in case of an unforeseen expenses or when you need funding for expansion of your business' geographical footprint or for the build of a new product. Apart from the Western Cape, the gripping drought that hung over the country has finally weathered away, the agricultural sector has more than recovered to a projected record harvest.
Good rainfall over most of the summer grain producing areas, a lot of rested lands, improved cultivars and the use of technology resulted in record crops for both maize and soya beans. The maize crop increased from roughly 7. The intensive livestock sector, such as feedlots, dairies and broiler producers, has also benefited from the rains as there will be an improvement in the feed margins.
However, the extensive livestock sector, farmers producing from grazing, is still not out of the woods yet. A lack of good rainfall and very low dam levels in the Western Cape are concerning, however, we remain hopeful as we head into winter, that the usual winter rains begin to fall across the province. So what are the lessons we have learnt from this drought: Lesson 1 - First, it is important not to lose focus of your long term strategy.
In farming, droughts will come and go, but how you plan to overcome a drought is an important part of the business. Do your production budget, feedflow plan and all other budgeting with both an optimistic view but always factor in a worst case scenario. If your farm can overcome the worst case scenario, then you will be fine.
Lesson 2 - Try to keep to your cash flow budget as far as possible and for as long as possible. This might mean that you have to sell off non-productive assets, but rather this than the risk of losing productive assets.
Lesson 3 - An important lesson is to diversify and with the current improved conditions, now might be the time to do so. In general, production conditions for the agricultural sector have improved substantially and this is clear in the latest consumer price inflation data release.
Food inflation in March fell to its lowest level in 14 months and the expectation is that it will decline even further given the improved agricultural conditions. Meat inflation is however still lagging the decline. Farmers are in the process of rebuilding their herds and hence slaughtering supply has declined. The declining food inflation bodes well for overall inflation and we saw a surprise decline in CPI to 6. Some growing concerns - The recent downgrades in which both consumer and business confidence in South Africa took a knock cannot go without mention.
The exchange rate fortunately stabilised and recovered some lost territory but one might wonder where it will go over the next few months. The volatile Rand, combined with an uptick in crude oil prices means we may be in for another fuel price increase in May, and this will further burden the recovering sector.
The agricultural sector has seen the worst in the past year, it has however began to find an upward swing again, the rains have returned, dams have filled up to near capacity, we have gone from a very low maize crop to a record high crop, and yes, the economy may be on a downturn, but just as the drought came and went, so will the tough times too. The overall takeout is plan for the worst, implement the basics, ensure your finances are in order and talk to your banker in advance.
If you get that right then there is no reason why you won't be singing in the rain. By logging into their profiles, choosing the insurance option, answering medical questions and accepting the quote, customers are able to take up cover within a few minutes. Some customers may be selected to go for a free medical assessment before the policy starts. The integration of life insurance with the bank's digital platforms will afford customers the benefit of a single login to simultaneously manage all their financial services and accounts.
Customers can now take up life, disability and critical illness cover for up to R10 million each and R5 million respectively on digital platforms. Life policy holders will also be able review and update their cover digitally without the intervention of service consultants. The number of Johannesburg FNB branches with active free WI-FI connection has reached as at February , this is as the bank continues to offer free internet connectivity to customers in its branches. The fundamental aim of this initiative is to offer cheaper banking alternatives for customers through the availability free high speed Wi-Fi.
Currently, about FNB branches are connected via internet fbre, which enables connectivity at faster speeds. Over the years FNB has moved to digitise its branches and avail the option of transacting via digital channels or over the counter. This happened in the form of introducing Digital Zones, which enable customers to transact via their online profiles within the branch. FNB also has dedicated eBankers across select branches that are deployed to assist customers at Digital Zones.
The role of eBankers is to assist customers who transact digitally by giving support where necessary. There's clearly an appetite for digital banking, but as more customers adopt digital channels we will have to balance this with customers' education," adds van Zyl.
For more information contact: Consumers who are travelling or have not yet finalised their arrangements for the upcoming Easter holidays should be wary of fraudsters who target people who are desperate to secure travel and accommodation at the last minute. Sahil Mungar, FNB Digital Banking says, "If you have or haven't yet booked your travel and accommodation, not only are you likely to pay a premium, but you could also fall victim to some online scams.
Consumers are then deceived to pay upfront in order to secure their bookings. This further gives scammers an opportunity to request ID copies and bank details of their victims, which are then used for identity theft," adds Mungar.
When consumers become desperate to secure holiday travel and accommodation, they can easily overlook scams due to the pressure, only to find out that they've been defrauded when they get to the venue. Mungar advises consumers to be extra cautious when booking accommodation online ahead of the Easter holidays.
For media queries contact: If you find yourself relying on debt and not your income to survive every month, it is a sign that you need to evaluate your finances to get financial stability. Eunice Sibiya, Head of Consumer Education at FNB says "it may seem hard at the beginning to make changes to your daily routines, but looking at the end goal is encouraging.
Therefore, you should carefully re-evaluate your budget and prioritise paying off debt as quickly as possible. For consumers who are battling with debt, Sibiya recommends the following measures:. Change the behavior that caused debt problems The first step of getting out of debt is looking at what got you into debt.
Acknowledge the challenge and evaluate your spending pattern as well as your lifestyle. Once you have done this, cut down on unnecessary expenses and channel the money towards paying debt. List all your debts List all the creditors you owe, the amount owed and the interest of each debt.
Then prioritise your debt either by interest rate or the balance of each debt. In addition, decide how much you can afford to pay a month for each debt. Be realistic about what you can afford and stick to your budget in order to avoid defaulting on any payment. Once you have paid off one account, channel the money into servicing the other debts so that you can pay it off as quickly as possible," says Sibiya.
Set periodic goals Now that you have listed all your debts and have a plan on how you will be paying them off, set a time frame and work towards achieving your goal within the set time. The desired goal will be rewarding at the end of the hurdle," says Sibiya. Track your progress Track your progress every three months.
This will allow you to relook your payment plans to see if it is working or not. If the progress is positive, you will be encouraged and driven to look at the long term benefit of being disciplined and committed to a debt free life. Discipline and commitment will lead you to financial independence," concludes Sibiya.
Despite increasing awareness about the importance of having life insurance, some consumers remain confused and undecided due to myths that uninformed people spread through the grapevine. Similarly, life insurance conversations are viewed in the same light and further perpetuated by misconceptions that this form of cover is complex and not easy to take up. Bromfeld demystifies common myths that consumers have about life insurance:. You'll be subjected to extreme laboratory testing before getting cover When taking up life insurance you need to complete a medical examination to determine your risk level.
A practitioner will either ask you a few medical questions over the phone or a professional nurse may take blood tests at the comfort of your home or workplace. The process is often quick and efficient. Wealthy people don't need life insurance While every situation is unique, life insurance plays a significant role when wealthy individuals pass on wealth to the next generation. It can give heirs and beneficiaries peace of mind knowing that costs related to winding up a deceased estate are catered for.
For business owners, costs related to selling and liquidating the business or transferring ownership can be covered through life insurance. Only married people need life insurance One of the biggest misconceptions about life insurance is that if you are single, don't have children or still young, you do not need cover. Life insurance caters for anyone that is financially dependent on you in the unfortunate event that you pass away.
Prevailing health issues will prevent you from getting cover You may pay a slightly higher premium than the average person if you have a pre-existing health issue, due to your risk profile.
However, if the health condition is well managed, you should have no challenges getting life insurance. For example, there are many people living with chronic diseases such as diabetes, hypertension and asthma that have life cover.
I have adequate cover through my employer Cover provided by employers often comes with its own terms and conditions and ends when you leave your job. Solely relying on this cover can leave you uninsured and result in you paying hefty premiums if you take cover when you are much older. If you are looking to take up life cover, it is advisable to speak to a professional or your financial services provider to avoid getting misleading and inaccurate information," concludes Bromfield.
The agricultural sector has overall survived the worst of the recent drought that gripped the country over the past three years; however, the Western Cape has not been as fortunate - damn levels are low and the lack of rain has led to decreasing soil moisture that is threatening production.
The Department of Water and Sanitation DWS reported that dam levels have eased marginally as we approach the end of the rainy season in the summer production areas, reaching In contrast, the summer rainfall areas of the Western Cape WC did not receive sufficient rainfall and dam levels remain critically low at Already, the weather forecasts have signalled a possibility of above normal rainfall for late autumn to mid-winter which is a welcome relief for the Western Cape winter crop areas" says Paul Makube, Senior Agricultural Economist at FNB Business.
Makube shares some implications from the drought that is gripping the agricultural sector in the Western Cape. Wine - Production volumes have declined. However, the drier conditions in general mean improved quality of wine.
The lower volumes may lead to a modest increase in prices to the benefit of the producers. Fruit and vegetables - Not all areas in the Western Cape are badly affected by the drought: We must however differentiate between water available for human consumption and that for irrigation. Although the situation with dam levels is dire, some farmers have on-farm water storage capacity for irrigation which is not for human consumption.
Nonetheless, some vegetable farmers who do not have this capacity are expected to face a bleak future if it does not rain sooner. Grain production - the rainy season normally starts beginning of May, so everything is not yet lost. Fortunately, the rainfall outlook has since improved with the possibility of above-normal showers in the winter ahead which will be beneficial for wheat and other winter crops. This will also help alleviate the current water shortages across the Western Cape.
Some farmers have opted to diversify into barley production, a product only produced in the southern Cape in the past. Livestock - the persistent drought conditions are devastating for livestock producers especially for beef, dairy and culling. Stock reduction will result in elevated prices.
During a drought, animals lose condition and production suffers which erodes the farmer's margins. The agri-value chain may come under pressure and impede potential job growth in the sector. With that said we remain hopeful that the much needed rains will return in the coming month," concludes Makube.
For media queries, contact: There is a growing trend of businesses opting to move away from office parks into residential areas. This may seem unconventional, but there are certain financial benefits for SME's to make this move. Anderson takes a look at some key considerations that a business has to take into account when deciding to buy or rent office space in a residential area. What must one consider in terms of where to buy?
The biggest consideration is access to the property. Are the access and exit points adequate for the expected visitors to the premises? Is the site in close proximity to major routes? How will peak hour traffic affect access to the premises? What are the stumbling blocks with owning commercial property in a residential space? Residential areas are prone to traffic stacking during peak times, especially close to schools and residents may complain about the rate of activity.
In residential areas, sufficient parking space may also be limited. What are the legislative considerations? One needs to ensure that the zoning of the property caters for the specific business to be operated thereon. The zoning of the property attaches to the property itself, and not to the owner thereof.
In some cases you may require special permission from the local authority "consent use". Consent use is normally granted to the owner of the property, with certain strict conditions to be adhered to.
This consent use may not be transferred to subsequent owners consent use therefore attaches to the owner, not the property. How are rates and taxes calculated? Rates are calculated in accordance with the rates policy of the Council in which jurisdiction the property is situated. Properties with business zoning are calculated at a higher tariff than residential properties.
The valuation of the property is normally multiplied by the tariff and divided by 12 to obtain the monthly rates applicable to that property. The valuation of the property will normally differ from area to area. Is it good to rent or own this type of property? It is always better to own property in a good area as it will appreciate in value and as you grow it might be an asset that you will either rent out or sell at a reasonable profit. What types of businesses are best suited for residential areas?
A look at the sector suggests that professionals such as doctors, dentists, accountants and real estate agents seem to move more to residential areas. Other industries that seem to benefit are beauty salons, printing franchises and smaller service providers such as plumbers and electricians.
The agricultural sector has survived the worst of the drought that gripped South Africa in the past three years. The recent rains have however positioned the sector favourably in parts of the country. Paul Makube, Senior Agricultural Economist at FNB Business takes a look at how the drought and subsequent recovery has impacted four basic breakfast foods, namely; eggs, maize, dairy and bread.
This industry has seen pastures improving, thereby reducing the frequency for the need for irrigation which translates to lower electricity costs. In addition, supply outlook for grain crops has improved and the subsequent decline in prices from the second half of indicates a reduction in food manufacturing cost is eminent.
The egg market is stable and producer prices remain at profitable levels. Nonetheless, producers do have an option to reduce their stocks by shortening the lifecycles of their layer hens.
The improved grain production outlook bodes well for feed prices, as feeding margins improve towards mid-year" adds Makube. The growth came from brown bread, it moved up from 82 million loaves in January to 90 million loaves. In fact, from October to December , brown bread production was consistently higher than white bread.
The latest production estimates indicates a harvest of However, the excessive moisture if rains persist coupled with early frost for some areas may result in a slight downward revision to the current crop estimate in the months ahead" cautions Makube.
Maize is a major input cost component, and a reduction in prices effectively means we will see feed prices begin to slowly stabilise. Agriculture is not out of the woods yet, but it is on its way out of the red and back into the black", concludes Makube.
As access to banking services through digital channels continues to grow, so does the need to protect consumers against the prevalence of online banking fraud. FNB views security as an integral part of a seamless online banking experience. Therefore, due to the prevalence of banking scams, consumers are urged to be more vigilant and familiarise themselves with the different types of online banking fraud. The bank proactively closes down fraudulent phishing websites used by criminals to try and access customers' confidential banking details.
These are the latest online banking scams that consumers should be wary of:. Flight purchase debit scams - you will receive an SMS informing you of a flight purchase debited to your account. Fraudsters will request you to select a link in the SMS to revise the transaction.
When you select the link, you will be redirected to a fake FNB website. You are then redirected to an 'Update and Confirm Details' screen requesting more information to be verified. The fraudsters will now be in a position to access your banking profile.
We will never ask for your credit or cheque card, account number, online banking login details or password or One Time PIN OTP on social media platforms. The official accounts also display a blue tick indicating that they are verified. Change of banking details scam - you will receive an email that pretends to come from one of your suppliers asking you to update your banking details.
Beware of this even if it is on the supplier's letterhead. Contact your supplier on the number that you already have for them and not the one on the fraudulent letter. Speak to someone you know at the supplier to confirm the change in banking details. Copy of payment notification scam - you will receive an email requesting you to open a copy of your payment notification. Fraudsters will prompt you to login via the email attachment. When you open the attachment in the email, you will be redirected to a fake FNB website.
In an attempt to steal your banking details you will be requested to login. As soon as you enter your login details on the screen, you are redirected to a successfully logged out screen. The details vary and large amounts of money are usually involved. Invariably, the victims' banking details as well as sums of money are said to be required in advance in order to facilitate the payment of the funds.
Essentially, the promised money transfer never happens and in addition the fraudsters may use the victims' banking details to withdraw money for themselves. Vishing and smishing scams - this is phishing, but instead of being lured to a fake website via email, you receive a call or SMS, where the individual pretends to be from the bank or other companies and gets you to disclose personal information such as your ID number, address, account number, username, login details, password and PIN.
This information can also be used to gain unauthorised access to your banking account online. OTP Email Fraud - using various methods of phishing, criminals also try to get access to your email accounts, commonly Gmail, Yahoo, etc.
They produce fake login sites that look like Gmail or Yahoo. Once they have your email username and password, they have access to your emails statements, personal communications and this helps a criminal to build a social profile of you. They can also contact your service provider to do a Sim Swop which basically means that they hijack your sim and have access to your SMS.
Never select a link to our website that was sent via email. Always type in FNB's web address. You confirm the transaction on the FNB App. Johannesburg; 15 February - FNB is seeing rapid growth in the number of consumers that are doing their banking outside the normal banking hours due to the convenience of Automated Deposit Tellers ADTs which do not require users to go inside the branch. ADTs are self-help terminals that allow consumers to conduct a number of transactions without having to go into the branch.
As a result all FNB branches are now equipped with ADT machines in line with the bank's strategy to migrate customers to self-service electronic channels. In addition, customers use ADTs for cash deposits, prepaid purchases such as airtime and electricity. Other functions include PIN changes, daily withdrawal limit adjustments, card cancellations, sending money and making inter-account transfers.
The devices also cater for cardless deposits which allow banked or non-banked consumers to make cash deposits without a card being present, driving transactional volumes on electronic devices. We believe that the trend of using self-service platforms will continue to grow and banks will have to cater for the needs of the modern-day customers," concludes Van Zyl. While the number of contactless transactions by customers averaged 1. However, some retailers may have their own limits.
All credit and debit cards issued by FNB are now contactless 'tap' enabled, meaning that customers are able to securely pay for their goods at merchants without the card leaving their hands.
The bank started issuing contactless enabled cards in May and already has over 1 million in the market. Security features include encryption technology which protects the card's contactless data from reproduction as well as the fact that customers are required to input their PIN after a number of 'taps'.
Contactless 'tap' payments are finding wide adoption both nationally and internationally, so we can expect the payment space to continue to evolve rapidly as new technologies are developed," concludes Rimmington. The 21st century has seen the fastest growth in human advancement in just about every sector, the World Wide Web is 25 years old, and the internet itself is just 45 years old.
The corner store is fast evaporating and global trends now have a direct impact on the local SMME. This makes the SME sector very important in resolving the high unemployment in the country. Leaders in this sector of society must be quick to act and flexible enough to adapt to the ever changing economic environments if we are to achieve the goals set out in governments National Development Plan.
Here are some key global insights that will have an impact on business and entrepreneurs:. Geopolitical change - China continues to move towards being a world leader economically and politically. It has therefore become clear that there is a definite impact on businesses especially in emerging markets such as South Africa. Exports and imports of businesses trading internationally will be affected due to the impact on the Rand.
There would be a need for local businesses to be responsive. Globalisation - China was very vocal about its support for globalisation at this year's World Economic Forum in Davos. An increase in globalisation usually has a negative impact for small open economies. This puts added pressure on local businesses and upcoming entrepreneurs, as a result of increased competition.
For small businesses to compete, that would mean that they find means of generating additional capital, which might be already difficult given strict lending requirements. Inclusive Growth - The concept of inclusive growth talks to the benefit of all citizens in an economy. The easing of current regulations is one way in which to achieve inclusive growth, creating more opportunities for entrepreneurs. Education is important in terms of upskilling the workforce, improving entrepreneurial skill by means of accessible and affordable business incubations, as well as incorporating entrepreneurship in the schooling system - this all drives inclusive growth.
Fourth Industrial Revolution - there is ongoing talk about the Fourth Industrial Revolution the fast moving rate of Artificial Intelligence AI and the positive or negative impact it could have on human capital. McKinsey's prediction is that approximately half of the current jobs could be replaced by robots by Given that a significant amount of job creation is expected from small business, there needs to be an understanding, on how to have a solid balance between increasing employment for the South African economy, the use of technology in business and our readiness to become more automated.
Early in the week price moved off the low of 0. GDP printed at 0. Aussie employment data released a touch down on predictions with the unemployment rate jumping to 5.
We maintain our view the kiwi is overvalued from several months back with fair value around the 0. The current interbank midrate is: The NZD has lost ground against its Australian cousin over the past week, suffering during periods of broad risk aversion. The pair traded down to a low of 0.
Initially travelling off the open to a fresh high of 0. Next week we have a busy economic docket to add some volatility to the cross, with NZ quarterly GDP the highlight. In the current risk off tone the kiwi seems to be holding up better than the Aussie dollar, we suspect the pair may hold current levels for a few days with only Australian consumer sentiment to print tonight which could impact.
A retest of 0. GDP printed much lower than markets were expecting at 0. The RBA left the benchmark rate on hold at 1. Trading still just over the 0. These levels seem extremely lofty to us, but we said this at 0. Australian Building approvals missed the mark for the fourth straight month when figures represented further declines in property which is now down 9.
Quarterly operating profits by businesses was also down at Buyers of AUD should consider at current levels as we trade currently at the top of the recent band around 0. A hawkish statement by the RBA governor could shift price action back towards 0.
Still predominantly range bound the pair has however looked vulnerable over 0. Tier one data published this week of note, ANZ Business Confidence and Aussie Private Capital Expenditure both releases as expected making no real dent to price action. We still hold the view of a lower cross but with the kiwi a popular investment choice currently, it should hold up for a while longer leading into Xmas. Watch for volatility Friday with the G20 kicking off in Argentina.
NZ Trade Balance this morning came in at We expect the pair to mainly drift around its current levels over the course of the week. Trading currently at 0. The RBA minutes showed no change to current monetary policy with future policy action possibly needing to be adjusted if the Aussie Dollar strengthens. Right now the Aussie is acting as a shock absorber for the economy at current levels.
We have nothing on the near-term radar to shift the cross from its current ranges around high 0. The Australian Dollar AUD continues to defy currency analysts as to why it continues to lack support. I would like to say prices look lofty around the 0.
The kiwi has remained well in control since the RBNZ statement and cash rate announcement last Thursday. Australian wage index Wednesday together with unemployment numbers Thursday should support the Aussie with a reversal back towards 0. Last week we reported prices at 0. The kiwi received a massive boost Wednesday after NZ unemployment data published at 3. The RBNZ left rates unchanged at 1. At the moment prices around 0. Trading over the past two weeks between 0. Even though statistics show the economy has grown over the past few months economists are still questioning this suggesting a slow down is on the horizon with business confidence remaining at low levels.
Currently trading at 0. Bouncing around the chart from 0. Australian Trade Balance figures printed showing a massive surplus of 3. Next week both Central Banks will announce their Cash rates with no changes expected from the 1. Long term we still support downward bias in the pair as we have been saying for a couple of months now, but the NZD remains bafflingly stubborn. Thin markets due to a NZ holiday the cause, the highest level in the cross since late June The Aussie fought back with the pair drifting lower back to 0.
We still believe these levels above 0. We think price should return to the 0. For much of the past few months the New Zealand dollar has struggled to maintain any move above 0. The NZD stalled at that level however and then dipped back below 0. Overnight, the NZD has regained the 0. Quarterly CPI released Tuesday at 0. Post the release the kiwi travelled to 0. This will certainly put pressure on the kiwi in the medium term. The Kiwi dollar NZD reached a low of 0.
The current 10 year average back to is 0. This puts perspective on how the New Zealand Dollar has crept up over the years based on economic changes. The pair looks to be capped at 0. Both currencies have reported weaker than expected economic data recently after the RBA left rates unchanged at 1.
Perhaps over the next 5 years we could see an average higher than 0. The pair seem solid around the 0. NAB Aussie Business confidence just released slightly better than expected strengthening the cross around 0.
The RBA Tuesday left the cash rate unchanged at 1. Camped out around current levels the three month range formation is still 0. NZ Institute of business Confidence printed below market expectations to this morning bouncing the Aussie higher to 0. The three month range formation is still 0. NZ dairy interests will be crossing their fingers on a positive result given the last three have been negative. Flatlining for a large part of the week except for a short stint at 0.
Trading Friday midday around mid 0. At this point it would take a fairly hefty surprise to markets to shift the cross into the 0. Exchange Rates The current interbank midrate is: With better Aussie economic stats likely over the next few months we expect a broader medium term move towards 0. After a making a 0. Now trading at 0. Given better Aussie data, we look for a gradual move back towards the 0. The kiwi is proving to be incredibly resilient with recent data really showing a lower valued NZD but this never eventuates.
We should see more of the same for a while yet. Aussie job numbers released well above markets expectations at 44, smashing the 16, experts were predicting. The pair travelled to 0. Wrong — the kiwi strengthened back to 0. Markets will not let the cross go lower — next week we have NZ GDP, if the data prints well who knows, maybe we take another look at 0. Consolidating around the 0. Buyers of Aussie should look at these levels as we compare the low of 0. Strong Australian GDP data helped to drive the pair down to a low of 0.
The key resistance level to watch comes in around 0. Only a sustained break above that would make us really question our current bearish view. While the pair came close to that resistance level yesterday, it was never really challenged, and we have seen a gradual decline since then. Those looking to purchase Australian dollars AUD should consider current levels as still being attractive. Currently trading around 0.
Friday on the chart is showing a kiwi NZD led recovery back to the 0. Direction at this point is extremely difficult to gauge. The current rate of 1. The bearish channel is still in play from the high of 0. A break through 0. Light support around 0. Our view is that current price wont deviate much between the range of 0.
Starting out at 0. Over the past two days it has not varied much from the 0. Aussie unemployment boosted AUD prices after releasing at 5. Reaching a low of 0. Profit taking on short positions in the market were closed out creating a spike higher disappointing investors they would see 0. With a fair chunk of data to come this week we could still see NZD decline further if Aussie data surprises markets with unemployment numbers and wage price index.
We are trading close to 0. Support below this level is at 0. October was the last time we have seen the pair at 0. The cash rate remains unchanged at 1. This statement was seen as more dovish than markets were anticipating with the cash rate expecting to stay low well into mid With the cross now at 0.
With the cross trading just shy of key support of 0. Markets are expecting a slightly dovish view of the economic future with widespread expectations they will keep the rate at 1. We spoke about a strong possibility the pair would trade back in its comfort zone in the 0. Aussie Building Approvals printed at 6. Nice going to all our customers who had orders in place and executed trades buying AUD with the wholesale rate up over 0. We hope to get more of an idea of future direction with central bank comments.
We are not out of the woods yet with ANZ business confidence very likely to take the pair back into the 0. Topside looks a long way off at 0. If you are waiting for 0. Currency Exchange Quotes or Apply for an account. This week has really not been any different to the last few.
Maintaining a tight range of between 0. This equates to an incredibly tight band of 65 points over the week. A lack of kiwi economic data and a slightly, some would say insignificant Aussie quarterly CPI number has created tight trading conditions.
Hopefully we will see a retest of 0. Confidence is holding up with solid economic growth, home prices and improving wage growth. With the cross trading at 0. This cross has ranged over 0. The stronger Aussie employment data yesterday saw this cross lower, but global events dominate, further NZD downside has been constrained by the weaker Aussie based commodity prices, but we still look for the NZD to test back to the 0.
Not much action in this cross over the last few days as it remains stuck in a 40 odd point range between 0. The NZD downside still favoured. The NZD has held its ground on this cross over the week, trading in a 0. After a high of 0. Investors have clearly indicated an oversold level at 0. We have seen a rebound over the last few hours back to 0. We should see a relatively quiet end to the week with only Aussie Retail Sales to print this afternoon to shift things about.
From the weekly open of 0. ANZ Business confidence published at The RBNZ cash rate announcement showed no surprises with markets generally expecting a dovish statement with the rate remaining unchanged at 1.
Adrian Orr hinted the economy could be operating at slightly slower than anticipated at this stage of the year. He said while the May monetary policy remains intact the main drivers of the economy may not be as strong as first thought. Support lies at 0. Markets are expecting a dovish statement, in light of no economic data to release this week on the Australian docket we think the pair may drift lower.
The quarterly figure printed at 0. Year on year the economy grew 2. Next week we have NZ Trade Balance and the all important Official Cash rate, which is expected to remain unchanged at 1. Surprisingly we are now staring down the barrel of 0. Sitting currently at 0. The rapid turnaround from 0. All we can say with certainty is that there has been a widespread sell off in Australian Dollars AUD across the board. The current level of 0.
Unemployment figures were mixed weakening the Aussie Dollar further. Deja vu on the mind from the recent early April spike through 0. The Australian Dollar has since reversed some of these losses as the pair travelled to 0. With the historic meeting about to kick currencies will remain fickle as the meeting nears. We suspect movement will be limited to the pair with the US Dollar to possibly drift higher as risk sentiment starts to dissipate.
Later in the week Aussie unemployment figures will release with NZ business Manufacturing figures to follow. Expect plenty of noise coming out of Singapore over the coming hours. Strong resistance has developed at 0. Three times over the week we have seen bounces off this level. The Aussie rallied off the back of a hawkish RBA statement which suggested further growth and lower unemployment.
We expect the current swings to continue and the cross to trade back to the lower band of 0. Stronger than predicted Australian retail sales at 0. With the Current Account printing a slightly negative result of RBA announcement is this afternoon with rates expected to remain unchanged at 1. We expect the bias to be a hawkish statement in line with recent positive data and put pressure on the NZD over the week.
The bearish channel we have spoken about from the high of 0. ANZ Business confidence did no favours for the NZD as NZ business sentiment got a tad gloomier but any weakness which was to transpire was quickly netted with Australian Capital Expenditure when the number expected of 0. Trading immediately higher off the weekly open the pair travelled to 0.
The bearish channel is still in play until a break higher through 0. China officials have been vocal recently over the arrogance of the Australian media straining key relationships between the two countries. The pair should close the week quietly around current levels. Retail sales were down to 0. The pair should track lower to 0. As we commented some time back, support for the kiwi would run dry and consolidation would be somewhere in the 0.
We have seen it level off over the past two days around 0. The NZ budget offered the kiwi a temporary boost pushing back to 0. The interbank range this week has been: Support is still at 0.
The Global Dairy Auction is overnight with Whole Milk values expected to be positive in line with recent prices. The benchmark cash rate of 1. Orr said the next move would be either up or down — only time will tell. The next support level for the cross looks to be around 0.
The pushback comes in the wake of weaker Chinese Services PMI data which came in weaker than the predicted The cash rate of 1. The RBA cash rate announcement turned out benign with the benchmark rate remaining unchanged at 1. The talk has been on Australian trade figures as they printed considerably better than predicted at 1.
This rallied the Aussie Dollar off 0. Strong support still lies at 0. With the RBA announcement this afternoon to gyrate the pair we should see plenty of movement. As we have said previously we still believe the pair to be overvalued at these levels and further correction should prevail down to 0. Still great selling opportunities at the current levels.
Remember the high from 12 April of 0. With little data released from NZ, attention has been on Australian economic releases. Australian inflation came in pretty close to expectation and had little impact, while the Terms of Trade data was mildly supportive for the AUD. We still believe the NZDAUD cross rate is overvalued and we expect further declines, but it may well be slow going and take number of weeks to get back to our target area of 0. Immediate resistance comes in around 0. A break above that level may see some temporary strength develop.
The New Zealand dollar NZD lost ground to its Australian cousin over the past week, pulling back from what were surprisingly elevated levels. Has the relentless march higher in the cross, that started late last year, finally come to an end?
The key level to now watch is the 0. Any significant break below there would likely encourage further selling, opening the way from a much bigger pullback.
It would also be a signal that a significant top has been put in place and that the risks have all swung back to the downside. Australian CPI data due out in the next couple of hours will be key in deciding near term direction, and potentially the fate of the support at 0. Mixed data was released culminating in a weaker kiwi this week with the down around points from the weekly open of 0. Questions this week have been asked around why the sudden reversal in fortunes for the Aussie Dollar after poor job numbers released yesterday have not had a detrimental effect on the AUD.
Analysts have indeed pointed out the possible shift could be in the support for commodity prices are supporting the Australian Dollar AUD. We should get more of an idea next week when Australian quarterly inflation figures are released.
We have seen more sellers of AUD come forward this week with potential for more to come out of the woodwork if the pair drops lower, support is still seen around 0. Perhaps we have seen the top and the start of a possible slide back to what we consider a sustainable realistic value in the pair.
Aussie Monetary Minutes of its April meeting were released in the past hour but have had little impact, The RBA re-iterate the next move in rates will likely be up reflecting an improvement in the Australian Economy. The last cash rate rise was 7 years ago. The RBA will carefully calculate the timing of the next rise as this will have a big effect with pressured household debt and low wage growth. We are still in a bullish cycle with prices still reflecting an uptrend, we will need to break below 0.
Softer Chinese CPI data for March published down on expectation and put the Aussie on the back foot, as they are heavily reliant on the Chinese economy to do well.
As we have said previously the kiwi looks overbought and unsustainable at current levels as we pick a reversal on the horizon back to 0. This current trend goes all the way back to the October low of 0. The pair has since come off its high to trade around 0. The pair still looks unsustainable around current levels, we are still picking a reversal back towards 0.
The pair should edge back to 0. As we have been saying now for some time, these levels remain attractive for buyers of AUD as anything north of 0. Some would say overvalued and unsustainable at the levels, we are still picking a reversal back to 0. The Australian Trade Balance printed higher than the expected 0. From these levels we eye 0. The RBA will announce their cash rate later today Tuesday at 1. With a new 5 month low its surprising to see the pair back above 0.
Resistance is now at 0. Bouncing off the weekly high of 0. RBNZ kept rates unchanged at 1. Coming off the previous weeks close of 0. The next significant area of concern for the AUD is 0. We may see a small correction back to 0.
The Australian Dollar depreciated against the kiwi -back above 0. Hopefully Grant Spencer tells us something new to move the pair out of its range. Buyers of AUD should look to trade above 0. His comments will be important this week with a lack of other key fundamental Australian drivers.
The pair is still well supported above 0. The decline of the Australian economies overall share in manufacturing will account for a lower portion of the Gross Domestic Product GDP. The AUD then re-traced back to 0. Broader risk still remains to the upside as we follow the trend line up from 0.
This week sees a myriad of data releasing including the RBA announcement this afternoon. RBA Governor Philip may be hawkish but with the pushing out of rate hike projections and mixed results of late he may focus on the fact that an overvalued Australian Dollar is not good for inflation targets and general economic growth. Resistance is seen over the following days around 0. Buyers of AUD should consider buying at current levels over 0. RBA Minutes earlier suggested a casual tightening of interest rates based on slow wage growth.
We mentioned current levels above 0. Buyers of AUD should consider current buying levels. RBA Minutes suggesting a softly softly approach with raising interest rates based on slow wage growth, investors have continued buying the NZD in support.
With quarterly NZ Retail Sales printing today, anything over the expected 0. Current levels above 0. It trades at 0. Australia unemployment remains stable at 5. At current levels above 0. The NZD has continued to have the edge and is currently finding support above the 0. Customers looking to transfer NZD to AUD should take advantage of the current level, or any near-term strength, to transact. We have not seen 0. Any NZD rallies are expected to be shallow with the pair close to key resistance that has capped it since late July last year.
It has been up at 0. The NZD continues to outperform the Australian dollar AUD for no apparent reason and although we expect the kiwi to weaken at some stage, current levels could hold over the next few days. These are still historically good levels for NZD sellers and we continue to believe solid resistance above 0. Currently holding around 0.
The NZD fell to 0. Immediate support is at 0.