© Reuters. The South African rand strengthened against the dollar today, buoyed by the US Federal Reserve’s dovish comments that signaled potential rate cuts in the future. This shift in stance by the Fed has provided a boost to emerging market currencies, with the rand climbing 0.5% to 18.4994 against the dollar by 0951 GMT.
RAND TALKING POINTS & ANALYSIS SARB keeps rates at 8.25% since their last hike in May 2023. Low trading volumes today will likely extend throughout the remaining trading session. USD/ZAR hovers around key resistance. Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get you FREE guide now!
RAND TALKING POINTS & ANALYSIS Rand remains buoyant on weaker USD and positive leading business cycle figures. FOMC minutes to come later today. Bullish divergence progressing off long-term support. USD/ZAR FUNDAMENTAL BACKDROP Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get you FREE guide now! Foundational Trading
RAND TALKING POINTS & ANALYSIS Rand unable to capitalize on US initial jobless claims data. Fed officials to relate recent US economic data. Bullish divergence at trendline support could see some SUD upside to come. USD/ZAR FUNDAMENTAL BACKDROP Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get
RAND TALKING POINTS & ANALYSIS US specific factors drive ZAR strength but may be short-lived as markets may over overreacted to Friday’s NFP data. Fed speak in focus later today. USD/ZAR bulls keenly await possible short-term reversal. USD/ZAR FUNDAMENTAL BACKDROP Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment
RAND TALKING POINTS & ANALYSIS MTBPS, manufacturing PMI and vehicle sales data paint a poor picture of the local economy. US jobs data in focus later today. USD/ZAR finds resistance at 18.50 and 200-day MA. USD/ZAR FUNDAMENTAL BACKDROP Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get
RAND TALKING POINTS & ANALYSIS Geopolitics, Fed and Chinese factors at play. USD/ZAR rising wedge breakout now limited by support zone. USD/ZAR FUNDAMENTAL BACKDROP Macro-economic fundamentals underpin almost all markets in the global economy via growth, inflation and employment – Get you FREE guide now! Foundational Trading Knowledge Macro Fundamentals Recommended by Warren Venketas The
RAND TALKING POINTS & ANALYSIS Decline in US Treasury yields sustaining rand upside as PPI’s push higher. Attention n shifts towards FOMC minutes and Fed officials. Rising wedge support being eyed by ZAR bulls. Want to stay updated with the most relevant trading information? Sign up for our bi-weekly newsletter and keep abreast of the
© Reuters. The South African Reserve Bank (SARB) governor Lesetja Kganyago attends the SARB Biennial Conference in the Cape Town International Convention Centre, in Cape Town, South Africa, August 31, 2023. REUTERS/Esa Alexander/File photo By Kopano Gumbi JOHANNESBURG (Reuters) -South Africa’s central bank Governor Lesetja Kganyago said on Thursday that the bank would not step
Rand prices strengthened in early trade but cautiously await the NFP report as a gauge to what the Fed may do regarding their interest rate cycle. لینک منبع : هوشمند نیوز
