Depends on which side of the fence you are, decreasing inflation can be seen as negative for the Rand as the chances of another hike in rates might be delayed. Money and rates go together i.e. money follow rates.
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The ZAR Exchange Rate Thread
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Depends on which side of the fence you are, decreasing inflation can be seen as negative for the Rand as the chances of another hike in rates might be delayed. Money and rates go together i.e. money follow rates.
Rand just cross the area I've been watching. Currently sitting at R10.67. Expecting it to weaken further to around R10.70/01 before turning back.
Rand weakness mostly due to dollar strength. Dollar received a big boost from the employment and GDP figures out of the US.
Ockie
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AthenianOwl
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:erm:
Went to a low of R10.71 and should now head back towards the R10.55 area after which I expect it to head back to the R10.80 and even possibly R11 + area. All depends what is going to happen to the stock markets over the next couple of weeks.
I however strongly doubt that we will see anything below R10.50 within the next month or two.
Ockie
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Ockie
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Oh come one. That was hilarious man!
Ok, this joke should come with a "dont try this at home" warning. Tried it on my British friend. I think it has actually destroyed our friendship now! Thanks a lot MKfrost!
Ockie
Resident Lead Bender
I could not get it right. Tried making it smaller....and then tried making it bigger. Mybb messes it up with its scaling. :-(
AthenianOwl
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Oh come one. That was hilarious man!
Yes, it was hilarious but I didn't pee
I came instead Oh come one. That was hilarious man!
Looks like its almost time for the same 'lame' joke, Rand currently trading at R10.76. Crazy Friday today and some big news due in the US in 30 mins time.
Ockie
Resident Lead Bender
No, bugger off with your knock knock joke that I found hillllaaaarious! My rep have been ruined with both people I tried to tell it to!
what are the chances that the exchange rate is going to go up? by lets say monday??
Chances of it going up is very good. By Monday???? Not sure, we need to get a pullback first. Was expecting it to go back to the R10.50 area and then back up towards R11 but need to relook that now with this break upwards today.
News out in 6 minutes which should set the trend for the next week. Stocks are coming down in the US and that is fueling the Dollar so the Rand is in for more of a beating but that will depend on the news coming just now.
sweeet, i had some issues(talk about banks and their call centers), sorting out a $ account, so need to change it into rands.. not sure when to give the go ahead..
I'm in the same position. Got some Euros to exchange, but I think the Rand is at its strongest at the moment (I suspect it's unlikely to go any further). So will wait a week or so and see if it weakens to give a better conversion.
Right on the money, nice bounce right on R10.60. Expecting to see it now heading to around R10.80/90 with a strong possibility of breaching the R11.00 level in the next week or two.
EDIT: Just had another look and best target I can come up with is R11.30. Let's see where it goes.
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LazyLion
King of de Jungle
Economic week ahead: SA current account deficit
The rand may come under pressure, the US job market is expected to continue stabilising and London’s property boom appears to be fizzling.
http://mg.co.za/article/2014-09-08-economic-week-ahead-sa-current-account-deficit
The rand may come under pressure, the US job market is expected to continue stabilising and London’s property boom appears to be fizzling.
http://mg.co.za/article/2014-09-08-economic-week-ahead-sa-current-account-deficit
Just broke through the R10.76 resistance and should head for R10.80 now. Doubt whether it will go above it. Will most probably touch and or pierce it and then return to the broken resistance at R10.76 area where it should bounce and head back to R10.80 and eventually R11.30 (my expected target).
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