The ZAR Exchange Rate Thread

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They were awake, but by the time we got confirmation it was after 5pm. So most channels for trading would have been closed by then.

We will see I have shorted the rand yesterday, so 3pm today I will know ;)
 
Scooby_Doo said:
I literally making a bet that once the US comes online it will dive further.
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Yeah, I do think it will weaken further too when it opens. Just saying I don't think it will be as bad as last time, and could potentially consolidate quickly with emerging markets still being in demand and USD slipping.
 
Praemon said:
The US market was open when the news broke. Asian markets also had a chance to absorb it. What causes the biggest fall in the currency is knee-jerk reactions and foreign investors quickly selling off the Rand. That hasn't happened this time like last time. We could still see some weakening, but looks like most investors in the currency are waiting and seeing which will reduce the damage.
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No it wasn't.The NYSE closes at 16:00 EST which is 22:00 SAST.
 
markets-wtzmap.php.gif
Code: 
Stock Exchange 	                                                                                           Trading Hours	
NYSE 	New York Stock Exchange 	                                                           09:30-16:00
TSE 	Tokyo Stock Exchange 	                                                                           09:00-11:30    12:30-15:00		
LSE 	London Stock Exchange 	                                                                   08:00-16:30
HKE 	Hong Kong Stock Exchange 	                                                                   09:30-16:00
NSE 	National Stock Exchange of India 	                                                           09:00-15:30
BM&F Bovespa 	Bolsa de Valores, Mercadorias & Futuros de Sao Paulo                    10:00-17:00
ASX 	Australian Securities Exchange 	                                                           10:00-16:00
FWB 	Frankfurt Stock Exchange - Deutsche Borse 	                                           09:00-20:00
RTS 	Russian Trading System 	                                                                  09:30-19:00
JSE 	Johannesburg Stock Exchange 	                                                          09:00-17:00
DIFX 	Dubai International Financial Exchange- now NASDAQ Dubai 	                  10:00-14:00
SSE 	Shanghai Stock Exchange 	                                                                  09:15-11:30    13:00-15:00		
NZSX 	New Zealand Stock Exchange 	                                                  10:00-17:00
TSX 	Toronto Stock Exchange 	                                                                  09:30-16:00

Spaces sadly mess up on this site.

Proper interactive map and table on: http://www.worldtimezone.com/markets24.php
 
YingYang said:
No it wasn't.The NYSE closes at 16:00 EST which is 22:00 SAST.
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Ah, true. My mistake. I'm used to dealing with suppliers on the West coast of the US, so normally work on their time. So will be interesting to see when it opens, although I still think if there was going to be a mass sell-off, it would have already started.
 
Praemon said:
Ah, true. My mistake. I'm used to dealing with suppliers on the West coast of the US, so normally work on their time. So will be interesting to see when it opens, although I still think if there was going to be a mass sell-off, it would have already started.
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See the rise when U.K. opened to 13.50 and let's see what happens when US opens.
If you had long usd positions , leaving them over the weekend might not be a bad idea
 
Pho3nix said:
See the rise when U.K. opened to 13.50 and let's see what happens when US opens.
If you had long usd positions , leaving them over the weekend might not be a bad idea
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I'm in that boat. Moody's is also set to announce their ratings outlook next Friday. They might just give another negative outlook, or put it one above junk, since they have to give the new FM a chance, even though everyone knows exactly what's going to happen.
 
Rand is steady. So doesn't look like there's any panic selling off in the US markets, which could mean a bounce back. Investors are probably nervous though, so will be interesting to see where it is this time next week (after Moody's issues their latest review update).
 
Maybe investors think that Zuma has just farked himself and don't want to go full scorched earth just yet. Kinda a Pyrrhic victory for Zuma. Just a theory of course.
 
A lot is different. Rand has been strengthening, instead of a few years long trend of decline. This is the second time a FM has been fired. It was expected. Gigaba isn't as bad as weekend special.
 
Rand was certainly looking a little up today. What do investors know that we don't?!
 
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