Rand Report: Rand slides further on bearish momentum
The South African rand had yet another week of losses in the forex market, with investor outlook suppressing the emerging market currency.
The South African rand had yet another week of losses in the forex market, with investor outlook suppressing the emerging market currency.
The South African rand, last week, faced challenges and failed to recoup. Load shedding concerns continue to cast a shadow over the rand.
The South African rand remains under pressure, courtesy of local economic concern. Its recent weakness can be due to the power supply crisis.
Last week, the absence of significant South African data left the rand without a definitive local catalyst. More in the following report
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The South African rand remained on the backfoot last week. A bleak local economic outlook, coupled with broader market risk-off sentiment.
The South African rand also only experienced small price changes. The USD/ZAR pair moved 0.10% higher, ending the week at R18.10
The South African rand strengthened against 18 of the top 19 currencies we monitor. The strong performance was not unexpected.
The Rand lost its grip on recent gains and extended its move into the red. The recent weakness can be attributed to damp growth prospects
The recent rand recovery added against major currency counterparts. This appears to be a result of a correction in overshooting price action.
The rand strengthened against 17 of the top 19 currencies. This can be attributed to the currency being oversold in previous weeks.
The Rand had yet another tough time in the forex markets last week, as local conditions continue to pressure the emerging-market currency.
The South African Rand ended yet another week in the red with disappointing economic data serving as the catalyst for ZAR weakness.
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Since the beginning of the year, the South African rand has shed considerable value against its major counterparts.
The rand lost ground against all major currencies, as the severity of local power cuts continues to intensify
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The rand has continued to wilt. This was fueled by President Cyril Ramaphosa’s State of the Nation address (SONA) last week.
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The rand had a mixed performance in markets last week. The emerging-market ZAR faltered against a solid greenback, and the USD/ZAR appreciated
Rand turbulence was partially offset by risk-on investment sentiment in the global financial markets. Find out more in this article
The rand’s recent weakness was mainly due to a deteriorating economic outlook due to a pessimistic view on the country’s growth capabilities.
The rand was benefited from recent risk-on sentiment. The greenback weakness allowed the USD/ZAR pair to move 2.04% lower during the week.
The rand had a relatively poor performance last week, which can be partially attributed to local uncertainty in the banking sector.
The South African GDP growth rate came in at 1.6% in Q3, exceeding the anticipated reading of 0.6%. This comes after the 0.7% contraction in GDP during Q2.