The ZAR Exchange Rate Thread

[Lupus]

14:70 quite quickly as well, in about half an hour

 

[Verde]

Seems Rand is reacting to smaller than expected trade surplus.

 

[wizardofid]

Getting commission tomorrow, holding thumbs for it to hit R15.30 in the next day or two, for a even healthier pay check

 

[The_Traveller]

Getting commission tomorrow, holding thumbs for it to hit R15.30 in the next day or two, for a even healthier pay check

I'm waiting to cash up $200k , cross fingers for R15+

 

[Arthur]

About to break R15/$:

 

[ghostR]

recovering against the usd today...

 

[The_Ogre]

Always pay attention to the forex market on the first friday of the month. at 14:30 the US Nonfarm Payrolls and the Unemployment figures are released.

Both were horrible today, hence the strengthening of the rand.

 

[Verde]

Always pay attention to the forex market on the first friday of the month. at 14:30 the US Nonfarm Payrolls and the Unemployment figures are released.

Both were horrible today, hence the strengthening of the rand.

There must be more to it - EUR-US$ is unchanged and GBP-US$ just .5% stronger, yet ZAR-USD 1.4% stronger.
Is the market happy with SAA's new board?

 

[NarrowBandFtw]

There must be more to it - EUR-US$ is unchanged and GBP-US$ just .5% stronger, yet ZAR-USD 1.4% stronger.
Is the market happy with SAA's new board?

Could still just be driven by USD weakness, if payroll numbers were horrible the market would slowly wise up to the fact that there will be no interest rate hike in the US this year at all.

Once you make the decision to go in search of a higher yield it wouldn't make sense to go GPB or EUR as both are low interest rate environments anyway, ZAR is riskier, but with higher interest rates.

 

[Swa]

There must be more to it - EUR-US$ is unchanged and GBP-US$ just .5% stronger, yet ZAR-USD 1.4% stronger.
Is the market happy with SAA's new board?

Just means prospects for the EU doesn't look any better as well. As for the Rand I've said it over and over, it's undervalued so it will continue to correct itself every time the USD's overvaluation becomes apparent.

 

[wizardofid]

I'm waiting to cash up $200k , cross fingers for R15+

Got it at buying rate of 14.53, all in all pretty chuffed I didn't wait any longer then that

 

[The_Traveller]

Got it at buying rate of 14.53, all in all pretty chuffed I didn't wait any longer then that

I sold my stock at 14, so extra profit ... But rand is strengthening sitting at 14.48, maybe I'll cash up now.

 

[Gtx Gaming]

Good GDP data came through from our side ,higher than expected!

Sitting at 14.21 atm.

 

[Necropolis]

Good GDP data came through from our side ,higher than expected!

Sitting at 14.21 atm.

Now we wait for Zooms to do something stupid and reverse any gains.

/yay!

 

[sox63]

Good GDP data came through from our side ,higher than expected!

Sitting at 14.21 atm.

And we dodge a technical recession again! Thought Mining would be good with the relatively high prices, but 11% up was pretty great. From what I read, Agriculture, understandably, contracted.

 

[Gtx Gaming]

Weak USA data came through ,sitting at 14.05 now ,might see 13 today!

 

[Swa]

And we dodge a technical recession again! Thought Mining would be good with the relatively high prices, but 11% up was pretty great. From what I read, Agriculture, understandably, contracted.

We're already in a technical recession. Don't know what the requirements are for getting out of it but 3rd quarter growth figures aren't in yet.

 

[Garson007]

We're already in a technical recession.

Swa logic at work again...

 

[biometrics]

We're already in a technical recession. Don't know what the requirements are for getting out of it but 3rd quarter growth figures aren't in yet.

Two quarters in sequence, isn't it?

 

[Thor]

Two quarters in sequence, isn't it?

That's correct we are technically half way in a recession