The ZAR Exchange Rate Thread

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Why are you even trying to predict.. Trend lines should mean nothing with a currency like ours?
 
Pho3nix said:
Should be a pullback to 16.80 max and fall back down.
Nothing really should prevent us hitting R15 by end of the month.

I would be cautious though, Trump winning will push us back to R17 odd so horde dollars if you need too
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Got it but missed a bit. Should continue downwards if it doesn't break 16,95 barrier
 
Dollar strengthening. Bitcoin is also tanking.
 
Swa said:
Dollar strengthening. Bitcoin is also tanking.
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Altcoins is tanking back into the tanking BTC daddy.

What I expected would happen as soon as people do mass profit taking on all the bs tokens is that the retracement will mostly siphon back into BTC dominance and so far BTC dominance during the downturn have gone up by over 4%.
 
From an email I received from a bank this morning:
  • Yesterday our ZAR gave up an entire months’ worth of gain in a single session, as fears about a second wave of Covid infections grew around some parts of Europe.
  • Equities came under pressure, the USD regained some of it recent losses and EM sold off.
  • I suspect that this kind of pattern will remain true for the foreseeable future.
    • Bouts of EM strength where punters look for yield bearing assets. This will take place during equity market bullishness.
    • And then periods of stress where the world’s problems rise to the surface and put the fear of Zeus into market participants.
  • And the reason for the roller coaster like behavior?
  • Well that’s fairly simple – massive amounts of liquidity support from CB’s and Governments, battling against the impacts of lock downs across the globe as a result of Corona.
  • Whats not simple is trying to determine what mood the market is in!!!
  • In benign risk periods this liquidity looks for a home in riskier asset classes. However in risk off environments everyone rushes for the exits at the same time, resulting in the kind of moves witnessed yesterday.
  • Some of my ex-girlfriends have been less fickle than these markets.
  • The irony is that as equity markets sell off, it only reinforces the view that CB’s need to maintain their stimulatory stance for longer, especially if we see another surge in European Covid cases as winter approaches.
  • So , that’s what’s happening at the moment. Liquidity is poor, markets are edgy and volatility is elevated.
 
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