ZAR looks undervalued – Danske Bank

Chief Analyst at Danske Bank Jakob Christensen assessed the prospects for the South African Rand in the upcoming months. Key Quotes “After the recent surge, we think that much of the good news is priced in and hence the rand may trade flat against the USD near term”. “However, w ...

USD/ZAR bounces off lows near 11.50

ZAR in 3-year tops vs. USD. Domestic politics behind the move. C.Ramaphosa elected President. The South African Rand is now giving away some of this week’s strong gains and is driving USD/ZAR to the 11.65 area. USD/ZAR in 3-year lows The par is alternating gains with losses in th ...

USD/ZAR expected to tick lower near term – Danske Bank

In view of Chief Analyst Christin Tuxen at Danske Bank, the South African Rand (ZAR) is seen appreciating in the near term. Key Quotes “Following the developments in South Africa we maintain our projection for USD/ZAR at 13.30 at end-September, despite the failure to remove presiden ...

ZAR: Zuma hangs on, president survives no confidence vote – ING

Chris Turner, Global Head of Strategy at ING Bank explained that the result of today’s No Confidence ballot in the South African parliament was 177 votes in favour of the motion, some 24 votes short of the number required to end Jacob Zuma’s eight-year term as South Africa’ ...

USD/ZAR gains more than 1% even after Zuma survives confidence vote

The USD/ZAR pair gathered momentum and jumped to a fresh session high at 13.4086 after President Zuma survived the no confidence vote in the South African Parliament. As of writing, the pair was trading at 13.3970, up 1.35% on the day. Although this development seems to be a positive developmen ...

USD/ZAR could grind lower near term – Danske Bank

Chief Analyst at Danske Bank Christin Tuxen believes the ZAR could appreciate further in the very near term. Key Quotes “In South Africa, there will be a secret ballot on a motion of no-confidence in president Zuma in the national assembly today (the discussion will start at 2pm). The vot ...

South Africa: No-confidence voting in the President in focus – TDS

Analysts at TDS suggest that South Africa’s lawmakers will debate and vote on a long waited motion of no-confidence in the President and will be a key event for today. Key Quotes “While not being the first of such motions presented by the opposition parties against Zuma, this is th ...

USD/ZAR recovering majority of bearish-Zumbar-related gap

USD/ZAR is recovering fro the opening gap from 12.6783 lows, currently trading at 12.7863 having opened at 12.9009. The rand was under immense pressure back in March when concerns that Jacob Zuma, the South African president, was preparing to fire Pravin Gordhan as finance minister. The price wa ...

The South African rand continues to outperform – BBH

Analysts at Brown Brothers Harriman explained that the rand continues to outperform.   Key Quotes: "In 2016, ZAR rose 13% vs. USD and was behind only the best performers last year were BRL (+22%) and RUB (+20%).  So far in 2017, ZAR is up 5% YTD and is closer to the middle of the E ...

USD/ZAR could edge higher – Danske Bank

Pernille Henneberg, Senior Analyst at Danske Bank, noted the recent events around the South African Rand. Key Quotes “In emerging markets, the South African rand has taken a heavy beating overnight, weakening 5% against the USD, after President Jacob Zuma fired Finance Minister Pravin Gordha ...

USD/ZAR leaps to 2-month tops on political jitters

The South African Rand keeps losing ground at the end of the week, now lifting USD/ZAR to test fresh 2-month tops past 13.60. USD/ZAR higher after SARB, politics The offered bias arpund ZAR picked up pace after the SARB left unchanged its monetary status quo, matching the broad consensus, althoug ...

ZAR plummets on South Africa cabinet reshuffle’s headlines

According to ENCA TV, South Africa's President Zuma has removed Pravin Gordhan as Finance Minister in a cabinet reshuffle. At the time of writing, ZAR is under pressure across the board, with the USD/ZAR pair skyrocketing above 13.30, trading at 13.36, up 0.65% on the day. By the other hand ...

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