| Gut Feel | ||||||||||||||
| Rates | ||||||||||||||
| USD / ZAR: | 13,2625 | |||||||||||||
| EUR / ZAR: | 14,2327 | |||||||||||||
| GBP / ZAR: | 16,9888 | |||||||||||||
| ZAR / JPY: | 8,2014 | |||||||||||||
| EUR / USD: | 1,0726 | |||||||||||||
| GBP / USD: | 1,2803 | |||||||||||||
| USD / JPY: | 108,95 | |||||||||||||
| Ø | ZAR remains resilient but running out of time | |||||||||||||
| Ø | Parastatals holding back on bond issues | |||||||||||||
| Ø | 13.20 proving hard to break | |||||||||||||
| Ø | Political unrest still here causing insecurity in market | |||||||||||||
| Same as before ZAR remains resilient but surely, it’s running out of time and market patience, one way or another there, must be break away from the range it’s trading at present. My belief is that there is too much political turmoil and unsureness about the new Min of Fin and if he will stick to the present fiscal policy. The announcement that they distance themselves from the Marxist remarks by his econ advisor, rings shallow as he cannot commit to the world about no nationalisation as seen in interviews. Even as i write the economic fundamentals still favour the ZAR but market very unsure which way to turn. One must look at the downgrading as some parastatals are holding off with bond issues, as rates will be expensive and very little interest is expected. 13.20 has proved to be a hard nut to crack as markets are thin with more holidays coming and this could mean that next week or in new month we could see some direction. Trading range 13.20 13.90 | ||||||||||||||
| Economic Data: | 20th Apr | |||||||||||||
| Ø | US Initial Jobless Claims | |||||||||||||
| Ø | US Continuing Claims | |||||||||||||
| Ø | US Leading Index | |||||||||||||
USD/ZAR Hourly Candle
Here in the low R13.30’s is where I would look to get long all the way down to R13.15.
” When I got into the business, there was so little information on fundamentals, and what little information one could get was largely imperfect. We learned just to go with the chart. Why work when Mr. Market can do it for you?” – PTJ
USD/ZAR Daily Close
Here in the low R13.30’s is where I would look to get long all the way down to R13.15.
“The markets are never obvious. It is designed to fool most of the people, most of the time.” – Jesse Livermore
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