Rand slightly recovered, outlook ambiguous

The Rand is currently slightly recovering, mainly in wake of positive outlooks within the emerging markets and despite a stronger Dollar in light of better employment figures showing a quarter of a million more jobs, a drop in long-term unemployment and a better than expected seasonal unemployment.

The Rand remains susceptible to the “trade-war” developments between the US and China / Turkey … most likely soon Africa as well as the pre-election campaigns and news pertaining to developments within parties, coalition prospects and cooperation failures.

The Rand will most likely hover at the current levels for a while, absorbing bad news from within South Africa through speculants, who did sell Rand positions empty and need to recover those before their option deadlines.

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