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The Sable International Rand Report

USD-ZAR AT THE TIME OF THIS REPORT: 12.1746  

RANGE FOR THE DAY: 11.9500/12.2000

 

EUR-ZAR 14.9543 | GBP-ZAR 17.0659 | AUD-ZAR 9.33687

EUR-USD 1.22809 | GBP-USD 1.40206

NEWS HEADLINES

  • The oil price looks set to climb higher this week and should it do so, you can expect it to have an effect on the Rand’s value. Contrary to what some might assume, if a higher oil price is accompanied by higher commodity prices in general (which it often is) the ZAR should strengthen along with the price of oil.
  • It remains to be seen if the USD can continue strengthening as it did on Friday. A strong USD, and a lower gold price would hamper the Rand’s ability to make any gains against the USD and, to a lesser degree, the other major currencies.
  • Tomorrow the SARB will release its leading indicator for February. Expectations are that the indicator will continue trending upward, as it did in January. Also this week, the BER will release its consumer confidence for this year’s first quarter. Finally, on Thursday, Stats SA will release PPI for March.

MARKET HEADLINES


Investec Daily Outlook 23 April 2018


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