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ZAR: Rand Tad Softer In Quiet Trade

ZAR
EM BulletBulletEmerging Market News

Spot USD/ZAR last deals at 18.5947, almost 400 pips higher on the session after hitting new cyclical highs at 18.6081 yesterday. A move through that level would open up Aug 5 high of 18.6850. Conversely, bears look for a pullback towards the round figure of 18.0.

  • South Africa retained its trade benefits under the African Growth and Opportunity Act (AGOA) for 2025.
  • The BBDXY Index sits marginally above neutral levels; the MSCI EM Currency Index is a tad softer.
  • SAGB yields have edged lower across the curve, with South Africa's 10-year breakeven inflation rate last seen at 5.43%.
  • The composite BBG Commodity Index sits 0.4% higher on the session, with the precious metals subindex last seen 0.2% better off.
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Spot USD/ZAR last deals at 18.5947, almost 400 pips higher on the session after hitting new cyclical highs at 18.6081 yesterday. A move through that level would open up Aug 5 high of 18.6850. Conversely, bears look for a pullback towards the round figure of 18.0.

  • South Africa retained its trade benefits under the African Growth and Opportunity Act (AGOA) for 2025.
  • The BBDXY Index sits marginally above neutral levels; the MSCI EM Currency Index is a tad softer.
  • SAGB yields have edged lower across the curve, with South Africa's 10-year breakeven inflation rate last seen at 5.43%.
  • The composite BBG Commodity Index sits 0.4% higher on the session, with the precious metals subindex last seen 0.2% better off.