The South African Rand hit a 4-week low on the back of the hawkish Fed projections and lower-than-expected retail sales data. This has allowed the USD/ZAR to extend its corrective rally towards the 14.03 price level. On Wednesday, the Fed surprised the market with hawkish projections as it finally acknowledged […]
In this section, you will find important USDZAR news, actionable trading ideas, and a live USDZAR chart to help you understand how the South African Rand trades vs. the US Dollar.
USDZAR is the ticker symbol in fx markets that represents how many South African Rands you can buy with one US dollar. South African Rand is the legal tender of the Common Monetary Area which includes South Africa, Swaziland, Lesotho, and Namibia. The factors that affect USDZAR are the interest rates, the GDP growth, inflation, unemployment rates, balance of payments and other macroeconomic figures. The US Federal Reserve Bank and South African Central Bank are the two institutions that USDZAR traders follow in order to get an idea about the future moves of the pair.
Live USDZAR Chart
USD/ZAR is at a 28-month low at 13.70 as a reaction to South Africa’s PPI numbers. According to Statistics South Africa Head Office, the country’s producer prices rose by 6.7% in April on a year-on-year basis. While the figure missed the estimated 6.8%, it is the highest level since November […]
The USD/ZAR price declined slightly in the overnight session as traders reflected on the South Africa Reserve Bank (SARB) interest rate decision. The South African rand is trading at 13.98 against the US dollar while the GBP/ZAR is trading at 19.83. The EUR/ZAR is trading at 17.11 after the SARB […]
USD/ZAR is on a decline ahead of South Africa’s interest rate decision. According to a survey conducted by Bloomberg, economists expect the monetary policy committee (MPC) to leave the benchmark repo rate unchanged at 3.5%. This will in turn maintain the prime lending rate at 7%. The coronavirus pandemic pushed […]
The USD/ZAR strengthened slightly on Wednesday after South Africa’s annualized retail sales figure came in at -2.5% for March 2021. This number was much lower than the consensus and previous figures of 1.9% and 2.2%, respectively.This result allowed the greenback to catch a breather against the rampaging Rand, which has […]
USD/ZAR is trading higher by 0.14% after plunging in the previous session. Tuesday’s decline came as more Fed officials indicated that imminent tightening of the monetary policy is unlikely. On Monday, Atlanta Fed’s Raphael Bostic stated that the central bank will maintain low interest rates as the economic recovery is […]
USD/ZAR has eased after rebounding in the previous session. The rebound was fuelled by the strong US inflation data on Wednesday. According to the US Bureau of Labor Statistics, consumer prices rose by 0.8% in April compared to 0.6% in March and the forecasted 0.2% MoM. Notably, the number is […]
The USD/ZAR resumed the downside move as it seeks to complete the measured move of the bearish flag pattern due to a weakening US Dollar and a strong Rand that has gained momentum from solid manufacturing data. On Tuesday, South Africa Manufacturing Production Index (annualized) for March came in at […]
The USD/ZAR’s decline for the 3rd straight session follows disappointing Non-farm Payrolls numbers. In a Bloomberg TV interview, Minneapolis Federal Reserve President Neel Kashkari said the NFP report validates the Federal Reserve’s outcome-based approach to monetary policy. The NFP outcome showed a rise in the unemployment rate from 6.0% to […]
The USD/ZAR price nosedived on Thursday morning as traders started to price in an interest rate hike by the South African Reserve Bank (SARB). The South African rand rose to 14.31, bringing the total gains this month to more than 1.6%. What happened: Recent economic data from South Africa have […]