Temporary Rand Recovery awaiting ANC Electorate Decision

07 Nov 2017
Technical Rand Recovery

It is a very noisy environment at the moment and difficult to make head or tail of it all.

Emerging Markets’ exposures are being questioned, oil prices are surging, South Africa’s political environment deals more fresh scandals with each passing day and the level of accountability is non-existent. The country’s current fiscal position is in dire straits, the ANC’s election race is entirely uncertain and the December elective conference of the ANC is being billed as a make or break for the country as well as the party. Not that the elective conference on its own changes all that much, but there will be some form of rekindling of hope, albeit temporary, in case of Cyril Ramaphosa taken over the reigns over the country.

Against this backdrop, it was, therefore, curious to see the Rand stage a recovery yesterday. The Rand-environment has been characterised by portfolio outflows more recently that have unfortunately more than offset the surplus in the trade account. This morning, there have been reports of some inflows that materialised yesterday, which suggests that foreigners are simply biding their time and waiting for discounts to their exposure in South Africa before buying back in.

Whilst local economic prospects look concerning and are trending in the wrong direction, the country is unlikely to find itself desperate in the very near term and so for speculators, this remains an environment they can take advantage of.

Intra-day, it was interesting to note the manner in which the USD-ZAR was not able to sustain levels closer to the prior highs above 14.3000. Technically speaking, the formation has now formed into a “falling M” formation which is often typical for a topping out and it is not expected to reach the 14.30 exchange rate again in the nearest future. That is unless the political clown concert does not come up again with a new surprise move, which affects the fiscal threads the country hangs on.

Readers Comments

i need my Ex back 2018 | Wed, 24 Jan 2018 16:58:50 +0100
Hello, I am Theresa Williams After being in relationship with Anderson for years, he broke up with me, I did everything possible to bring him back but all was in vain, I wanted him back so much because of the love I have for him, I begged him with everything, I made promises but he refused. I explained my problem to my friend and she suggested that I should rather contact a spell caster that could help me cast a spell to bring him back but I am the type that never believed in spell, I had no choice than to try it, I mailed the spell caster, and he told me there was no problem that everything will be okay before three days, that my ex will return to me before three days, he cast the spell and surprisingly in the second day, it was around 4 pm. My ex called me, I was so surprised, I answered the call and all he said was that he was so sorry for everything that happened that he wanted me to return to him, that he loves me so much. I was so happy and went to him that was how we started living together happily again. Since then, I have made promise that anybody I know that have a relationship problem, I would be of help to such person by referring him or her to the only real and powerful spell caster who helped me with my own problem. email: {drogunduspellcaster@gmail.com} you can email him if you need his assistance in your relationship or any other Case. 1) Love Spells 2) Lost Love Spells 3) Divorce Spells 4) Marriage Spells 5) Binding Spell. 6) Breakup Spells 7) Banish a past Lover 8.) You want to be promoted in your office/ Lottery spell 9) want to satisfy your lover Contact this great man if you are having any problem for a lasting solution through {drogunduspellcaster@gmail.com}
lost love spell | Wed, 24 Jan 2018 16:59:22 +0100
Hello, I am Theresa Williams After being in relationship with Anderson for years, he broke up with me, I did everything possible to bring him back but all was in vain, I wanted him back so much because of the love I have for him, I begged him with everything, I made promises but he refused. I explained my problem to my friend and she suggested that I should rather contact a spell caster that could help me cast a spell to bring him back but I am the type that never believed in spell, I had no choice than to try it, I mailed the spell caster, and he told me there was no problem that everything will be okay before three days, that my ex will return to me before three days, he cast the spell and surprisingly in the second day, it was around 4 pm. My ex called me, I was so surprised, I answered the call and all he said was that he was so sorry for everything that happened that he wanted me to return to him, that he loves me so much. I was so happy and went to him that was how we started living together happily again. Since then, I have made promise that anybody I know that have a relationship problem, I would be of help to such person by referring him or her to the only real and powerful spell caster who helped me with my own problem. email: {drogunduspellcaster@gmail.com} you can email him if you need his assistance in your relationship or any other Case. 1) Love Spells 2) Lost Love Spells 3) Divorce Spells 4) Marriage Spells 5) Binding Spell. 6) Breakup Spells 7) Banish a past Lover 8.) You want to be promoted in your office/ Lottery spell 9) want to satisfy your lover Contact this great man if you are having any problem for a lasting solution through {drogunduspellcaster@gmail.com}
Michelle Huxford | Tue, 30 Jan 2018 06:15:41 +0100
ALL THANKS TO UPSTART LOAN AM NOW FINANCIALLY STABLE . upstartloan@yahoo.com I am Michelle Huxford from Casper, Wyoming. I was in a very chronic financial issue and terminal health situation some few weeks back. After all my search for assistance from friends and neighbors proved abortive, I feel there was no one who truly cares. I became so emaciated due to lack of good food and my 2 kids age 5 and 8 were not also good looking due to lack of proper care as a result of finance. One faithful morning I saw an old time friend of my late husband and I told him all I have been going through and he said the only way he could help was to direct me to a good loan agency that also helped him, He explained to me on how he was financially down and how he got boosted by this loan agency UPSTART LOAN INC ( upstartloan@yahoo.com ) who grant him 245,000 USD loan at an affordable rate. He further assured me that they were the only legit loan firm he found in the quest of seeking for loan after been scammed by various fake loan lenders online. He gave me their email: upstartloan@yahoo.com or text/call (574) 301-1639, That was how i applied and was also granted a loan and my life changed for the good. CONTACT THE ONLY GENUINE LENDERS( UPSTART LOAN INC) VIA email: upstartloan@yahoo.com or call +1 (574) 301-1639 to resolve your financial mess.
Daan Sophia | Mon, 05 Feb 2018 07:31:12 +0100
FINANCIAL BREAKTHROUGH Life indeed is GRACE, I'am Daan Sophia currently in California USA. I would like to share my experience with you guys on how I got a loan of $185,000.00 USD to clear my bank draft and start up a new business. It all started when i lost my home and belongings due to the bank draft I took to offset some bills and some personal needs. I became so desperate and began to seek for funds at all means. Luckily for me I heard a colleague of mine talking about this company, I got interested although i was scared of being scammed, I was compelled by my situation and had no choice than to seek advise from my friend regarding this very company and was given their contact number, getting intouch with them really made me skeptical due to my past experience with online lenders, little did i know this very Company "PROGRESSIVE LOAN INC. was a godsent to me and my family and the entire Internet World, this company has been of great help to me and some of my colleague and today am a proud owner of well organized business and responsibilities are well handled all thanks to Josef Lewis of (progresiveloan@yahoo.com).. So if really you are genuinely in need of a loan either to expand or start up your own business or in any form of financial difficulty, i advise you give Mr Josef Lewis of Progressive loan the opportunity of financial upliftment in your life Email: progresiveloan@yahoo.com OR Call/Text +1(603) 786-7565 and not fall victim of online scam in the name of getting a loan. thanks
CH | Thu, 08 Feb 2018 16:15:44 +0100
Are you in need of Urgent Loan.. All problem regarding Loans are solved between a short period of time with a low interest rate of 2% and duration more than 20 years what are you waiting for apply now and solve your problem or start a business with Loan, paying of various bills. We offer a wide range of financial services which includes: Personal Loans, Debt consolidation loans, Business Loans, Education Loans, Mortgage Secured Loan, Unsecured loan, Mortgage Loans, Payday off Loans, Student Loans, Commercial Loans, Car Loans,Investments Loans,DevelopmentLoans, Acquisition Loans, Construction Loans, with low interest rate at 2% per annul for individuals, companies and corporate bodies. Get the best for your family and own your dream home as well with our General Loan scheme.For more details email us today via email. bettermentfunding@gmail.com call/Text us now (803) 373-2162 Chester Brian