English Afrikaans
follow us on:
Follow us on Facebook Follow us on Twitter Follow us on LinkedIn Visit our YouTube page Add us to your circle
south africa zar forex reports

South Africa ZAR Forex Report 11/07/17

If one goes up, the other must come down.

A week ago we saw quieter trade as the US was closed for business, celebrating Independence Day on Tuesday. The same day, the Rand opened at 13.20, slightly down from the previous day’s highs of 13.27 as risks (especially locally) remain high, but global factors seemed to be improving.

Through Wednesday, as the ANC conference reached its final day, the ZAR weakened and almost touched 13.50 – eventually closing at 13.38 after the proposal to nationalise the SARB sent the market into panic mode. Overall though, the conference could be seen as positive and a step in the right direction.

While it could be argued that the Rand overreacted to the suggestion of the SARB being nationalised, the currency failed to reverse the losses as it opened on Friday at 13.44 against the USD. A deteriorating global environment and rise in global yields resulted in emerging markets suffering losses, as investors opted for safer havens and focused on the non-farm payroll figures that were to be released on Friday.

The payroll data was positive – the US added 220,000 jobs in June, which pushed US Treasury yields up and placed further strain on emerging markets and the Rand.

The ZAR opened this morning 13.44 against the USD and at 15.30 and 17.30 against the EUR and GBP respectively. The Public Protector’s decision to back down on the SARB mandate issue is more an embarrassment than anything else; it had very little effect on the Rand. Commodities are slightly down and emerging markets are again being sold off as the USD keeps surging; the Rand is currently trading close to 13.60 against the USD.

Keep an eye out for SA manufacturing data today and mining data on Thursday. Today, the Bank of England’s deputy governor, Ben Broadbent’s speech might give direction to the market and investors. In line with that, look out for Janet Yellen’s testimony to Congress on Wednesday, followed by US inflation data and consumer confidence on Friday.

Have a great week, let's go to work.

South Africa ZAR Forex Report 04/07/17

South Africa ZAR Forex Report 27/06/17

South Africa ZAR Forex Report 20/06/17

South Africa ZAR Forex Report 13/06/17

South Africa ZAR Forex Report 06/06/17

South Africa ZAR Forex Report 30/05/17

South Africa ZAR Forex Report 23/05/17

South Africa ZAR Forex Report 10/05/17

South Africa ZAR Forex Report 25/04/17

South Africa ZAR Forex Report 19/04/17

South Africa ZAR Forex Report 04/04/17

South Africa ZAR Forex Report 28/03/17

South Africa ZAR Forex Report 14/03/17

South Africa ZAR Forex Report 08/03/17

South Africa ZAR Forex Report 28/02/17

South Africa ZAR Forex Report 14/02/17

South Africa ZAR Forex Report 07/02/17

South Africa ZAR Forex Report 25/01/17

South Africa ZAR Forex Report 19/01/17

South Africa ZAR Forex Report 14/12/16

South Africa ZAR Forex Report 06/12/16

South Africa ZAR Forex Report 29/11/16

South Africa ZAR Forex Report 25/11/16

South Africa ZAR Forex Report 05/07/16

South Africa ZAR Forex Report 28/06/16

South Africa ZAR Forex Report 14/06/16

South Africa ZAR Forex Report 07/06/16

South Africa ZAR Forex Report 31/05/16

ZAR Forex Report 17/05/16

ZAR Forex Report 10/05/16

ZAR Forex Report 03/05/16

REQUEST A QUOTE

Contact Us

128 Boeing Road East
Bedfordview
Johannesburg
2007
South Africa
JHB +27 11 453 7818
Pretoria +27 12 004 7818
Cape Town +27 21 300 7818
Durban +27 31 100 7818
PE +27 41 004 7818

Email: info@exchange4free.co.za
Call Me Back
translate