South African Rand_1210

The South African rand remained fairly stable despite the US election led volatility just yesterday. USDZAR hit a 52-week low falling to 13.171 before managing to bounce back up and is seen currently trading at 13.448. The price level around 13.475 region has been a strong support level as noted a few weeks ago and the USDZAR has, in fact, rema...

2016-11-10 John Benjamin Read more

USDZAR is set to close a second week with gains although price action on the weekly chart shows an inside bar formed last week, indicating a near term break out from the range. Price action in USDZAR has been limited to a sideways pattern with 14.375 and 13.475 playing the resistance and support levels within the falling price channel. [capti...

2016-10-28 John Benjamin Read more
South African Rand_1210

The South African Rand came under pressure on Tuesday on news reports that the finance minister, Pravin Gordhan was issued summons to appear in court on corruption charges on November 2. It was for the time when Gordhan was in charge of the tax collection department over a year ago. The finance minister maintained that the allegations were poli...

2016-10-12 John Benjamin Read more
South Africa_Rand

The South African Rand poses a steady challenge to the US dollar as prices continue to fall giving up most of the gains made earlier in August. Latest fundamentals hitting the wire included today's headline inflation figures. Data from Statistics South Africa showed that headline consumer inflation slowed to 5.90% on a year over year basis in A...

2016-09-21 John Benjamin Read more
Rand

The South African rand was seen regaining lost ground as prices quickly reversed the losses from the previous week. The South African rand initially weakened after reports emerged in late August about the investigations into the Finance Minister Pravin Gordhan's dealings as a tax chief previously. The ZAR fell on the news and extended its declin...

2016-09-07 John Benjamin Read more