USDZAR.FOREX
South African Rand-Yen Forecast at 9.3–9.8 Yen This Week, Says Sanward Securities' Chen
Sanward Securities' Chen expects the South African rand-yen pair to face upside resistance due to yen strength this week, forecasting a range of 9.3 to 9.8 yen. The dollar-yen's sharp appreciation on coordinated Japan-US intervention triggered broad selling in yen crosses, pushing the rand-yen below its 200-day moving average. The South African Reserve Bank's decision to hold rates and escalating anti-immigrant protests are also negative factors. Meanwhile, the country is rapidly becoming Africa's largest digital hub with a surge in data centers, but this raises concerns over worsening resource shortages given the massive power and water requirements.
フィスコ·22dRead more ▾
USDZAR.FOREX▼
Commerzbank reviews South African Rand recovery scenarios after SARB surprise
Commerzbank's Volkmar Baur reviewed the South African Rand after its earlier appreciation against the US Dollar stalled with the Iran conflict. The analysis examines recovery scenarios following a surprise decision by the South African Reserve Bank. The Rand had been strengthening before geopolitical tensions interrupted the move. Baur's note outlines potential paths for the currency to resume its gains.
Commerzbank·23dRead more ▾
Societe Generale says rand weakness resumes after SARB surprise
Societe Generale analysts report that USD/ZAR has broken above a multi-month descending trend line and reclaimed its 200-day moving average, suggesting renewed upside momentum. The South African Reserve Bank surprised markets by holding rates at 7.0%.
Societe Generale·33dRead more ▾
USDZAR.FOREX▲
SARB holds rate at 7%, surprising markets and weighing on rand
The South African Reserve Bank kept its policy rate unchanged at 7%, a decision that Commerzbank’s Volkmar Baur described as a negative surprise. The hold came despite June inflation rising and Brent crude moving above USD 100 per barrel, which had led some to expect a hike. The surprise decision weighed on the rand against the US dollar.
Commerzbank·34dRead more ▾
USDZAR.FOREX▼
South African Rand-Yen Forecast Range 9.65–10.15 Yen, Buy and Sell Factors with Support and Resistance Levels Announced
Fisco announced on July 15 its forecast range for the South African rand against the yen at 9.65 yen to 10.15 yen. Buy factors cited include stabilization of domestic politics, inflows into high-interest currencies, persistently high resource prices, and a continued weak yen trend. Sell factors point to yen-buying intervention to correct excessive yen weakness.
フィスコ·43dRead more ▾
USDZAR.FOREX▼
South African Rand-Yen Forecast at 9.75–10.25 Yen This Week
Sanward Securities' Mr. Chen expressed the view that the South African rand-yen will remain firm this week on the outlook for policy rate hikes. The South African Reserve Bank cut its policy rate to 6.75 percent last November, then began raising it in May this year, with the rate now at 7.0 percent. On the other hand, he noted that the radicalization of anti-immigrant protests in Johannesburg is a negative factor, and if they escalate into riots, there is a possibility of a sharp drop in the rand. He forecasts this week's range at 9.75 to 10.25 yen.
フィスコ·44dRead more ▾
USDZAR.FOREX▼
South Africa to tap rand sukuk bonds, ZAR gains
South Africa's National Treasury will tap existing rand-denominated sukuk bonds as part of its current fiscal year funding plans, according to Societe Generale strategists. The issuance size and timing remain unknown. The South African rand gained following the announcement.
Societe Generale·54dRead more ▾
USDZAR.FOREX▲
Precious metals slump tempers South African Rand carry outlook, says BNY
Weaker precious metals are undermining the terms of trade for South Africa and Peru, limiting upside for the South African Rand and Peruvian Sol even in a supportive carry backdrop, according to BNY's Geoff Yu.
FXStreet·63dRead more ▾