| Rates | |
| USD / ZAR: | 13,4506 |
| EUR / ZAR: | 14,7789 |
| GBP / ZAR: | 17,4573 |
| ZAR / JPY: | 8,3558 |
| EUR / USD: | 1,0971 |
| GBP / USD: | 1,2966 |
| USD / JPY: | 112,75 |
| Ø | SA: Commodity Prices affecting Trading Terms | |||||||
| Ø | SA: Fin Min Gigaba addresses Parliament’s Finance Committee | |||||||
| Ø | US: Non-Farm Payrolls Higher | |||||||
| Ø | EU: French Presidential Election | |||||||
| Commodity Prices have improved and assisted the ZAR slightly. However, they are affecting SA’s terms of trade – various cost cutting in the mining sector with possible disinvestment from SA abroad highlights the negative sentiment to investing in SA. President Zuma’s no show at Vuwani possibly highlights the negative feeling towards JZ and the worris the ANC have over protests against JZ. Fin Min Gigaba will make his 1st appearance in fron of our parliament’s finance committee tomorrow. How does he plan on improving SA’s investment grade credit rating? Rapid Economic Transformation / Inclusive Growth implications on fiscal policy? Nuclear Procurement plans? All will be looked at for guidance to the ZAR direction with uncertainty currently in the market. US non-farm payrolls were sharply higher than expected. French elections proceeded as polls expected with an overwhelming majority voting for Macron at about 66%. EUR is slightly stronger although it came off its best levels and the USD on the defensive. Trading Range: 13.40-13.70 |
| Economic Data: | 8th May | ||||||||
| Ø | SA Gross Reserves | Ø | CH Current Account Balance | ||||||
| Ø | SA Net Reserves | ||||||||
| Ø | US Labour Market Conditions | ||||||||
| Ø | CH Trade Balance | ||||||||
USD/ZAR Hourly Candle
This chart has reached it ST targets and I would now look at selling a $ rally to over the R13.70 level in the coming days.
” Losers average down losers”– PTJ
USD/ZAR Daily Close
The R12.75 level is coming and we are waiting to see what the market structure looks like once it gets there and if we are keen to buy $’s.
“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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