With the ZAR currently in a strong position its good to see why.

Firstly and most important news would be that the charges against the Finance minister were dropped which spurred the rand to 2 month highs
We got data that Trade balance and vehicles sales plus money supply were all up which caused the rand to gain strength.
There were negative factors such as a lower manufacturing pmi and South Africa Standard Bank pmi being lower.

That said the biggest reason its performing so well is the Dollar losing value amid news that Donald Trump is leading the current polls. So investor sentiment turned to risk off which gave the Rand a huge boost.

Currently the Rand is surprisingly on a downward trend with a series of lower highs and lower lows, making this bearish. As a dollar bull i will sell this pair until dollar is stable and strong again.

One thought on “USDZAR (CULPRIT) Daily overview”

  1. Maryna says:

    Hi Bonga

    I’ve been selling USDZAR since 2 Jan 2016 and have been selling it now for 11 months. I look at Monthly charts for direction and have made mega $$ selling USD against ZAR this whole year!

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