USD/ZAR Humbled by Psychological Resistance at 17.700
US Dollar Rand (USD/ZAR) Price Outlook: Rand shrugs off Eskom woes and rising debt burden after 100 consecutive days of rolling blackouts (load shedding). USD faces uncertainty as geopolitical tensions rise. USD/ZAR price action faces pressure after brief retest of psychological resistance at 17.700. Recommended by Tammy Da Costa Get Your Free Top Trading Opportunities […]
Room for the South African Rand to play catch up with ongoing rally in EM FX – MUFG
Analysts at MUFG Bank see the USD/ZAR moving to the downside over the next days. They point out the South African Rand has failed to strengthen alongside other Emerging Market currencies on the back of building optimism over a dovish Federal Reserve policy pivot and China’s economy reopening more fully this year. Key quotes: “The […]
USD/ZAR Shakes Off Dovish SARB & Positive US GDP
South African Rand, Dollar Latest: SARB (South African Reserve Bank) raises the repo rate by 25-basis points to 7.25% (below expectations of 7.5%). USD/ZAR digests commentary from the MPC (monetary policy committee) – load shedding and the intense power-cuts dampen sentiment as productivity declines. US GDP and durable goods beat estimates highlighting a resilient US […]
Debate about the SARB’s autonomy is causing pressure on ZAR – Commerzbank
The Rand has come under pressure since the start of the week. Debates about a South African central bank’s change of mandate are pounding the ZAR, economists at Commerzbank report. Debates about a change of the SARB mandate “The plans of the governing party ANC are causing uncertainty amongst ZAR investors. They fear for the […]