South African Rand forecast page 8 - zar south african rand rand

The Pound Euro exchange rate (GBP EUR) is 1.1319. The Pound Dollar exchange rate (GBP USD) is 1.6457. Although trading volumes were significantly reduced, the currency markets were open for business as usual both on Friday and yesterday and there was price movement for the major currency pairs during both of these sessions . Perhaps the...

POUND STERLING Sterling has suffered heavy selling pressure over the last 24 hours following yesterday’s worse-than-anticipated PMI Services Sector figure. This morning’s Halifax House Price survey for February showed a monthly contraction in the UK housing market. Meanwhile, Sterling loses ground to the Euro on relative interest rate...

POUND STERLING The Pound has enjoyed a positive day, possibly due to a technical bounce following Friday’s negative performance. Sterling lost ground after the downward revision to the quarter 4 UK GDP figure on Friday as analysts revised their UK interest rate expectations downwards. Bank of England Governor Mervyn King speaks tomorrow,...

POUND STERLING The Pound continues to trade sideways against other majors as investors wait for tomorrow’s Bank of England Minutes of the February MPC meeting to be released. If the minutes show that only two MPC members voted for a rate hike at the last meeting, the Pound may lose ground. If four members favoured a tightening of...

US DOLLAR The tone of the latest FOMC Minutes, due for release at 1900hrs GMT today, is unlikely to deviate from the dovish line that the Fed has peddled in recent times. Producer price index figures were significantly higher than expectations, however this has failed to cause the Dollar to strengthen as market participants’ US interest...

EURO The Euro has suffered a turbulent day, finishing the European session over 0.5% down against the Pound. Weaker than expected growth figures from Germany, France and the whole of the Eurozone caused fears of a downturn in the real economy. NEAR-TERM OUTLOOK – NEGATIVE. STERLING The Pound made gains across the board in Tuesday...

US DOLLAR Crude oil resumed its rally today following a downward blip yesterday on the back of a hike in Chinese interest rates. The US equities rally looks to have stalled today and little hope of an increase to interest rates. SHORT-TERM OUTLOOK – Neutral. EURO The ECB looks to be reaching a consensus on a bail-out fund to...

The Rand has suffered significant losses against all the majors over the last six weeks. Since the turn of the year, the Rand has weakened from 6.58 against the US Dollar to trade above 7.31 at the end of last week. These losses have been partly attributable to comments from policy makers in South Africa who suggested that a weaker Rand was...

The US dollar weakened in relation to the euro and the yen Tuesday as US consumer confidence was reported up in August and as home prices fell less quickly, reducing demand for the greenback as a safe investment.The Conference Board reported that its consumer confidence index as at 54.1 in August, up from 47.4 in July and higher than...

The euro was weaker versus the US dollar and the yen Friday on a report from the European office of statistics which showed that consumer prices in the European Union were down 0.7 percent from last year, while at the same time US consumer prices were unchanged in July from June but were down 2.1 percent from last year at the same time,...