Rand consolidates, gives up some gains. The rand lost 1.4% against the dollar yesterday, as the trade war between US President Donald Trump and China over tariffs escalated. We expected some consolidation. Its important to remember the market is driven by speculative traders, big banks trading either the intraday volatility or taking short or long
Monthly Archives: Jul 2018
11
Jul
Jul
USD/ZAR I thought we would see the market consolidate more yesterday but it looks like we’re seeing a bit of that pull back this morning as traders undoubtedly wait for more information before taking up their positions again. We’re in the middle of nowhere at the moment, your long bull traders are more than likely
10
Jul
Jul
We’ve seen a big move on the Rand in the last week, the question now is, what to do about it? Another solid day of trading for the Rand yesterday. At 3pm the South African Rand was at R13.35 to the dollar after having peaked R13.308 in intraday trade. As it stands we’re currently trading
09
Jul
Jul
The Rand is gaining ground this week in the wake of softer US data. We’ve broken a couple of key technical levels this morning. Initial support at R 13,40 is holding ground at the moment although we have tested lower. The market has lingered around here twice before so there is a fair amount of
02
Jul
Jul
As the bad weather closes in expect another tough week for the Rand. A difficult week for the Rand last week. As the severe cold front closes in on most of South Africa, we expect another difficult week of trading for the Rand. USD/ZAR is currently trading around 13.75 this morning (05:30 AM). A daily
