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Moving away from the Pound in the late 50's to early 60's, the Rand was established and is the current legal tender for South Africa, Swaziland, Lesotho and Namibia. The Rand has had its fair share of volatility with the currency depreciating massively following the apartheid era sanctions. The currency looks to benefit when investors are willing to take on more risk in developing countries. Any pullback in risk from global markets pushes the Rand significantly lower as seen during the financial crisis of 2008.


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Weekly US Dollar and South African Rand Trading Forecast

Symbol Forecast Outlook

US Dollar and South African Rand News

South Africa 2015 Budget: Could Tax Reforms Stifle Economic Growth?
While GDP expanded in the 4Q, South Africa's 2015 Budget Proposal includes a level of restructuring that may pose a challenge to growth in 2015. USDZAR Consolidates.
Dollar Finds No Traction on Yellen’s Support for Hawkish Shift
Fed Chairwoman Janet Yellen delivered her testimony before the Senate Banking Committee Tuesday and the content of her remarks seemed to reinforce a position the market has been a...
Affirmation Transpires in South Africa: CPI falls and Retail Sales Rise
Pausing before holding rates steady last month, the Reserve Bank now finds inflation in the middle of its target and consumer spending on the rise.
South Africa’s Integral Mining Industry Contracts in 2014
Across multiple time frames, mining production in South Africa decreased in 2014 as a result of negative movements among PGMs and Gold. USDZAR is trading in a broadening pattern.
Business Confidence Bleak in South Africa as the PMI Contracts
USDZAR moves to support in a flag pattern despite growing risks to South Africa’s industrial expansion and economic capacity.

Forex Economic Calendar

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Date Time Currency Event Importance Actual Forecast Previous Notes
Mar 2
USD Personal Consumption Expenditure Core (YoY) (JAN) 1.3% 1.3%
USD ISM Manufacturing (FEB) 53.0 53.5
Mar 4
USD ISM Non-Manufacturing Composite (FEB) 56.5 56.7
USD U.S. Federal Reserve Releases Beige Book
Mar 6
USD Change in Non-farm Payrolls (FEB) 235K 257K
USD Unemployment Rate (FEB) 5.6% 5.7%