| USD / ZAR: | 13,3446 | |
| EUR / ZAR: | 14,5912 | |
| GBP / ZAR: | 17,2363 | |
| ZAR / JPY: | 8,4829 | |
| EUR / USD: | 1,0929 | |
| GBP / USD: | 1,2907 | |
| USD / JPY: | 113,34 |
| Ø | ZAR defies critics and remains strong | ||||
| Ø | UDM con court decision | ||||
| Ø | DA to take on NPA over whether they will charge JZ | ||||
| Ø | US data figures assist the ZAR | ||||
| ZAR once again has defied all the critics and carries on its course by strengthening further as the dollar itself has come under huge pressure. Last weeks’ US data retail sales and CPI were both disappointing, suggesting that the FED may not be as bold as it has made out to be, with regards to interest rate decisions. SA data has been playing a supportive roll also in assisting the ZAR. On the political front and just ahead of Moody’s pronouncement of a further downgrade, the Gov makes yet another blunder and reappoints a Gupta cronie, namely B Molefe back at the helm of Eskom. This has come under intense pressure from all political parties, unions and the electorate at large. This week all eyes will be on the con court’s decision whether to allow the UDM’s application to allow parliament to hold a secret ballot. Another political issue is the DA taking on the NPA as to whether it will pursue charges against #1. Talking to traders, they have opportunity to get better levels to stay long of $. Trading range 13.25-13.75 |
| Economic Data: | 15th May | |||
| Ø | US Empire Manf | |||
| Ø | US Total Net TIC flows | |||
| Ø | US Net Long Term TIC flows | |||
USD/ZAR Hourly Candle
This chart has reached it ST targets. I would look to stay square a few days as we would like to buy under R13.00 at this stage.
” Losers average down losers”– PTJ
USD/ZAR Daily Close
The R12.75 level is coming as long as the R13.80 level holds.
We are looking to get ling sub R13.00!
“The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.” – Jesse Livermore
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