Tag Archives: ZAR
FX Morning Rundown
Asian bourses were mixed overnight with the Nikkei leading losses (unofficially closes down 3.72% at 13,261.82)
“Carry” currencies – The Double Whammy
• The Emerging Market and commodity currencies (“carry” currencies) have depreciated against USD and EUR in May, in particular AUD and ZAR have been hit.
South Africa: Daily FX Technical Strategy – Inside week keeps ZAR bears in control
As the trading quarter, month and week draw to a close, while USD/ZAR holds above 9.15 the risks are that the larger YTD uptrend is intact for now.
Emerging Markets Briefer
Cyprus, Hungary and global monetary accommodation Just as the global economy looked as if it was emerging from the Great Recession and investor confidence was returning, things turned negative.
Will Fed and BoJ save us from Hungary and Cyprus?
Just as it looked as though the global economy was on the way out of the great recession and investor confidence was returning, things turned negative.
South Africa: Daily FX Technical Strategy – Bearish signals
We are watching NZD/ZAR which is approaching its YTD high at 7.67, and a breakout would aid the bearish sentiment towards the ZAR.
South Africa: Daily FX Technical Strategy – Stalling potential
The ZAR has been stalling against the EUR, and with NZD/ZAR and TRY/ZAR pausing near their January 2013 pivot high, we are taking note of the turnaround potential.
South Africa: Daily FX Technical Strategy – Divergence
USD/ZAR is holding near its multi-year high at 9.16, and the uptrend is diverging from the moves seen in other EM and commodity currencies. Despite the overbought conditions in USD/ZAR, while it holds above 8.95-9.00 support, the risks are for a rise towards 9.20-9.30.
South Africa: Daily FX Technical Strategy – Overextended
The ZAR ended the week on a bearish note reaching above 9.10 against the USD, and above 11.65 against the EUR. Although we are looking for some consolidation over the next two days,
South Africa: Daily FX Technical Strategy – Aggressive move
The ZAR sold off aggressively from the intraday low near the 8.83-8.84 area (against USD) following the release of local trade balance data, catching us off guard.
South Africa: Daily FX Technical Strategy – Another Doji
Although the ZAR sold off initially against the USD during the budget speech, a sharp snapback in late-afternoon trade maintained the seesaw moves we have become accustomed to.