Sign up with GoogleAgree and another concern is that those previous highs around the R10.50-70 level is going to offer good support when it eventually pulls back making it more difficult for the Rand to get back below R10.50.
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The ZAR Exchange Rate Thread
- Thread starter Robin Hood
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Agree and another concern is that those previous highs around the R10.50-70 level is going to offer good support when it eventually pulls back making it more difficult for the Rand to get back below R10.50.
Yep, that's why I'm saying "some". Our iron ore subsidiary will benefit from weaker rand this year and they did last year. Same goes for our platinum subsidiary.
ShaunSA
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Changed some $ a week or so ago, would have R2000 extra if I had waited a week, sigh.
And another new low for today [and past 5 years] at R10.9779...
Any possible chance of a lower increase in the petrol price is as gone as mist before the sun. Also, the expected increase of around R0.30 per liter [I think], is going to be more in the region of R0.40 to possibly even as high as R0.50 depending on where the Rand go during next week.
Any possible chance of a lower increase in the petrol price is as gone as mist before the sun. Also, the expected increase of around R0.30 per liter [I think], is going to be more in the region of R0.40 to possibly even as high as R0.50 depending on where the Rand go during next week.
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The only positive is that the Rand has not gone into a spiral with the strikes happening. I am just worried that if it starts tumbling... well we might be looking at a large shift.
Medium term outlook is still as stronger Rand.
that assumes demand will be strong (unlikely) for these commodities and there are no bottle necks in supply (unlikely with strikes already starting)
Agree, Dollar is way deep in overbought territories and others [AUD, GBP, EUR] are way deep in oversold territories so a reversal, if only temporary, is definitely on the cards.
The question though..... each time there was a reprieve like this in the market the Rand failed to capitilise on it like other currencies do as we are just not attractive enough. With the doom and gloom of the planned strikes, Eskom, the elections and the uncertainty etc...etc.. hanging over us like a cloud again.... will the Rand be able to make a decent pullback to at least the R10.00 area??
I doubt it. At best I see the Rand back to R10.25/30 at the most.
Tun@
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OrbitalDawn
Ulysses Everett McGill
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So R11 has been broken. Area to keep an eye on now is R11.05. If that goes then there is very little else that will stand in its way.
Transfered just over £10,000 last night and was given a rate of R18.15. Almost back to where we were in 2008.
Transfered just over £10,000 last night and was given a rate of R18.15. Almost back to where we were in 2008.
Sinbad
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Last peak [R11.0573] was made on lower volumes than yesterday and the peaks in the days before that. IMO this last push north was due to speculators trying a last run.
If I'm reading this correctly we should see a rather strong pullback from around this area. Might give a last spike towards R11.20 but from what I can see this run is out of steam and the markets need to 'reload' before any new runs are attempted thus the expected fall back.
Question is how deep this pullback will be. It should break back below R11.00 quite easily. My money is still on the R10.40 area.
If I'm reading this correctly we should see a rather strong pullback from around this area. Might give a last spike towards R11.20 but from what I can see this run is out of steam and the markets need to 'reload' before any new runs are attempted thus the expected fall back.
Question is how deep this pullback will be. It should break back below R11.00 quite easily. My money is still on the R10.40 area.
R11.1728
This is definitely going to collapse. As said, volumes are around a quarter of yesterdays yet the range is heading to around 150% of yesterday. Watch this drop all the way back to R11.00.
My biggest concern is just that the longer it remains above R11.00 the better the support being built i.e. the more difficult it will be to break back below that level.
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