| Rates | |
| USD / ZAR: | 13,43 |
| EUR / ZAR: | 14,3529 |
| GBP / ZAR: | 16,763 |
| ZAR / JPY: | 8,3112 |
| EUR / USD: | 1,0678 |
| GBP / USD: | 1,2477 |
| USD / JPY: | 111,79 |
| Ø | JZ does the cabinet reshuffle at expense of treasury | |||||||
| Ø | ZAR loses all its gains and look to lose more | |||||||
| Ø | Investor confidence at its lowest | |||||||
| Ø | ANC cadres not happy with moves, is their an uprising happening in ANC | |||||||
| JZ has done it, thrown down the gauntlet and defied his Cadres and done the cabinet reshuffle. The new Min of Fin Gigaba (Gupta ally) & deputy Min of Fin S Buthelezi (ex Prasa) must certainly cause untold instability and uncertainty in the SA financial markets. It’s certainly worrying when the sec general of ANC says it was developed elsewhere and they were only consulted. We must expect the ZAR to fall further and surely now we are closer to a downgrade by the rating agencies. Is this political suicide by JZ, time will tell and will his move be sooner rather than later? The move has dealt SA a significant blow to its credibility and has discouraged investors. The South Africans who will suffer the worst are the poorest of poor and it’s time they rose and defended the coffers for their benefit. Talking to traders they’re staying small long, from positions taken prior to cabinet reshuffle. Trading range 13.20-13.70 |
| Economic Data: | 31st March | |||
| Ø | SA Trade Balance | |||
| Ø | US Personal Income/Spend | |||
| Ø | US PCE Deflator y/y | |||
| Ø | US PCE core m/m & y/y | |||
USD/ZAR Hourly Candle
I have had it wrong and with this Black Swan the President has created, all bets are off!
” Fundamentals might be good for the first third or first 50 or 60 percent of a move, but the last third of a great bull market is typically a blow-off, whereas the mania runs wild and prices go parabolic.” – PTJ
USD/ZAR Daily Close
I have had it wrong and with this Black Swan the President has created, all bets are off!
“The markets are never obvious. It is designed to fool most of the people, most of the time.” – Jesse Livermore
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