Over the last six months the rand has been an absolute star compared to other emerging currencies.
While the rand has been strengthening to under R14.50, I can't say much about the other emerging currencies.
The Brazilian Real has weakened -8% to the US dollar.
The Rouble has dropped over 4%
And the Turkish and Argentine currencies have weakened over 10%.
The rand ... ››› more
March will be known as the worst month of all-time for the South African rand.
With the ongoing lockdown, the increasing rate of COVID-19 cases, the crumbling economy, and the downgrading from Moody's - It's just been bad news after bad news for SA.
And what happened last week?
Well we saw the South African rand hit record lows passing through the R19.00 mark against the US dollar.
... ››› more
Last week I made my first prediction on gold.
Click here to catch up if you missed it. Today I'm going to let you in on my 2nd prediction for the year – The South African rand.
In the last three months we’ve seen the rand strengthen from R15.40 down to R13,70.
We’ve seen the petrol price drop from over R16 down to R13,70 as well.
Whil... ››› more
The rand has been buoyed by tighter monetary policy in Turkey, Russia and Argentina. Our local inflation data assisted in the strength even though the Reserve banks held rates on Thursday.
The Rand has gained over R1.30 against the Euro, USD and GBP in the past three weeks.
Investors tend to panic and run for the exit all... ››› more
It's with great sadness I announce the demise of the rand!
In the last few weeks, we've seen the rand drop 19.13% from R11.50 to R13.70.
Thanks to dismal bond yields; declining GDP, increased borrowing costs and less money printing!
Of course, you are probably thinking… So what? Same old and why the drama?
Well, it's what I saw in my charts this morning that made me lose all hope... ››› more
I was wrong about the rand. I thought it was going to go up to R10 a dollar, but I'm not going to cry about it.
You can see looking at the USD/ZAR (United States Dollar versus the South African Dollar) weekly chart, a large wedge pattern formed from January 2016 up ‘till August 2017.
A wedge pattern is known as a reversal pattern where the price wedges down into a triangle formation. And a... ››› more
This week, the South African Rand is at its highest level in seven weeks. It's clawing back against the dollar trading at around R14.74.
I don't know about you but I certainly didn't expect the rand to gain so much ground. I must admit that I had severely negative outlook for the rand this month.
With the political unrest in Tshwane and a new wave of violent strikes in the country, I expect... ››› more
Normally when I write about the rand, I expect the rand value to drop big time.
• In 2013, I told you how the rand was going from R9.00 to R10.50 to the dollar.
• In 2015, I showed you how the rand was going from 11.00 to R16.00 to the dollar
• And now I'm about to reveal where I expect the rand to go from R16.00
Fortunately over the years, every time I made a rand prediction it worked ... ››› more
Last week, President Zuma made an unexpected announcement.
Finance minister Nhlanhla Nene was let off (dare I say fired). And the sad thing is that he has been widely known to do a great job during difficult times. And is probably one of the most qualified person for the job. But as soon as the announcement came out, the rand crashed. It moved from R14.50 to R15.29 to the US dollar in just one h... ››› more
I don't have many regrets.
But the one regret I do have, is not taking action four years ago and opening an offshore savings account to protect a portion of my capital.
The rand is a joke and your money is disappearing in front of your eyes. Not just lately, but for the last four years!
It's still not too late, though to take action and avoid a complete disaster.
After you're done read... ››› more
The end of the South African rand video is ready to watch...
Click on the play button below
"Wisdom yields Wealth"
Senior Editor: Trading Tips
Head Analyst: Red Hot Storm Trader
Author: 94 Top Trading Lessons of All Time
... ››› more
What a bitter-sweet situation we're in.
Jobs are being created in the United States of America and the economy is growing at a good pace. While back in South Africa we have the rand devaluing at record levels which is making it more and more expensive to travel and buy goods.
You can understand why it's a win/lose situation. But it doesn't have to be.
Let me take it a step further.
... ››› more
The rand has kicked off the week weaker than its close on Friday. The currency has been under immense pressure over the past few weeks.
Over the weekend, the governor of the Reserve Bank said it won't step in to stem the currency's losses.
The rand has weakened again this morning and is getting close to R14 to the greenback.
Let's take a closer look…
The rand weakens further
Th... ››› more
Last week saw the rand plummeting as worries over growth in China's economy hit global markets, but the local currency has managed to settle down this week.
But risks still remain that could send the rand weaker again.
Let's take a closer look at what's going on…
The rand has pulled back some of last week’s losses
Yesterday, the rand benefitted from some weakness in the dollar, ... ››› more
The rand has continued its slide against the dollar.
This morning, the local unit has already lost close to 1% against the greenback. The rand is feeling the pressure as a number of data releases locally and internationally weigh.
Let's take a closer look at what's going on…
Risks lie ahead for the rand
The rand is still weakening against the greenback, reports Fin24. This as trad... ››› more
Oi vey! That's what I hear from Aiden every day in the office, while he's reading the news.
Who can blame him with the economy and political situation going awry.
Sure we have less lights, water and food but there's something even bigger brewing.
This chart sends a shiver down my spine, because if it plays out, it could be the end of South Africa as we know it.
Let me explain…
The ... ››› more
Earlier this week, it was announced that Lesetja Kganyago is going to replace Gill Marcus, as the Governor of the South African Reserve Bank.
For the past three years, was one of Ms. Marcus deputy governor's. And so the country and myself, are thrilled for him to take over as the next leader of the SARB.
I believe by appointing Mr. Kganyago, it has helped restore confidence in the country.... ››› more
Things aren't looking good for the rand!
This week it was announced that the country's account deficit widened to 6.2% of GDP compared to 4.5% in the first quarter.
And when the account deficit widens, the rand is more vulnerable than its global market peers.
But don't just take my word for it. Here's what John Clairns, a currency analyst at Rand Merchant Bank, has to say.
“The co... ››› more
When the rand is on one of its roller coaster rides, the most quoted currency you'll hear the rand compared to is the US dollar. But have you ever wondered why the rand dollar rate is most quoted? Read on to find out what the fuss is about the rand against the dollar...
A stable rand dollar exchange rate boosts local business, Gareth Stokes in Fear, Greed and the Stock Market explains...
If e... ››› more
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