Yes, $ZAR lost 1.5% against the USD this, which most blame on Pres Ramaphosa's mention of the nationalisation of SARB, BUT Brazil dropped more & EUR very similar.
#BRICS currency/USD movements for this week:
South Africa -1.5%
The ZAR in the process did have breakout of the bottom of the...
Not a great end to week for #SouthAfrica - $ZAR. S&P revised Eskom rating from negative to stable, but clearly the market remains worried. #BRICS currency/USD movements for this week:
South Africa -1.6%
I must admit that the one currency that is looking mighty interesting technically this week,...
This might just be one of my current favorite trades and you're getting it as fresh as it comes. This is the first time since 12 January 2018 where we've seen a Golden Cross on the USD/ZAR (basically the inverse Rand/US$). Previous time this happened, we've seen a nice little run of 6.5% in ZAR.
In FX:USDZAR terms, if we see a close at current levels (Golden...
Support channel holds with better budgetary news coming out of South Africa for at least until the end of March. Price should rally to top of channel: potential swing trade. RSI swinging to the upside indicating bullish uptrend.
The zar has a strong correlation with both RIO and BHP two large gold mining companies with major assets in SA. Both of these companies have strong bullish trading symbols as gold is becoming more of a buy as the dollar weakens (gold is a safe haven for dollar holders).The USD is dropping surrounding a lot of political turmoil and uncertainty in the US along with...
ZAR USD FX_IDC:ZARUSD
How Cyril's impact as a new president could initiate a new bullish trend and combined with US Stock markets, ZAR could see SUB $11 or dare i say $9.
*speculative events that impacted perception of these two currencies.*
This is not quite an idea but a mere observation. The Rand has been depreciating in its value against the US Dollar in the past decade. While Bitcoin has been smashing it by a pretty impressive margin. This can mean a lot of things but my focus is on the fact that the Rand has been steadily and consistently shedding its value against the world's biggest economy....
ZARUSD bounced of a past support zone and is likely to reach the new resistance. If it breaches the resistance zone then that's an opportunity for a short term buy. However, if it bounces off the resistance, that will put the trade in a sell position with about 400+ pips.