We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • 🇺🇸 USD Consumer Credit (OCT), Actual: $18.908b Expected: $16.000b Previous: $9.579b https://www.dailyfx.com/economic-calendar#2019-12-06
  • The @UMich consumer sentiment report printed 99.2 this morning and helped propel a risk-on mood across markets while the $USD extended its intraday rally. Get your market update from @FxWestwater here:https://t.co/sVwGakRiY6 https://t.co/6z3JhITOsh
  • RT @LizAnnSonders: GDPNow for Q4 from @AtlantaFed now at 2%, at top end of #BlueChipConsensus https://t.co/1ds63mLqxH
  • 🇺🇸 USD Consumer Credit (OCT), Actual: 18.91B Expected: $16.000b Previous: $9.513b https://www.dailyfx.com/economic-calendar#2019-12-06
  • Heads Up:🇺🇸 USD Consumer Credit (OCT) due at 20:00 GMT (15min), Actual: N/A Expected: $16.000b Previous: $9.513b https://www.dailyfx.com/economic-calendar#2019-12-06
  • Spot FX Update: $EUR 1.1056 $JPY 108.5670 $GBP 1.3139 $CAD 1.3263 $CHF 0.9899
  • Commodities Update: As of 19:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.09% Gold: -1.09% Silver: -2.30% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/tXVk1UGkMi
  • After an incredibly quiet November, the stock market has continued to record levels. Get your market update from @PeterHanksFX here: https://t.co/LMjHf0xkgn https://t.co/4CQzuvHGRU
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 98.09%, while traders in France 40 are at opposite extremes with 78.67%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/wAXEIzWGVz
  • The 5-week ATR on $AUDUSD is the lowest since November 2002. This pair is ready for a breakout...and breakthrough or cascade on US-China trade war could provide it https://t.co/Ort3VHmnfW
Rand Hits Yearly Low in Spite of Favorable Nonfarm Payrolls

Rand Hits Yearly Low in Spite of Favorable Nonfarm Payrolls

2014-12-11 19:57:00
Walker England, Kara Dailey,
Share:

Talking Points:

  • Nonfarm Payrolls increase 1.0% year-over-year
  • Manufacturing expands at a rate of 2.2% while retail sales rise by 3.4%
  • USDZAR breaks a new yearly high after consolidating in a triangle

Following Tuesday’s disappointing release of October’s mining data, today’s nonfarm payrolls release provides a more optimistic outlook on South Africa’s economic state. Further fueling the positivity—an increase in the manufacturing and retail realms, as well as a natural decrease in the inflation component.

From the start of 2010 employment levels have been on an upward trend; September’s annual increase of 1.0% is of no exception. In descending order the segments providing the most substantial contributions are as follows: community services (3.0%), trade (1.2%) and finance (1.1%). Furthermore, total gross earnings among all industries increased by 4.6% on the quarter and 7.5% on the year.

With a five point improvement in October’s BER business confidence report, manufacturing production in the same month increased by 2.2%. The escalation was due to a higher production of motor vehicles/transport equipment (10.3%), food/beverages (2.1%) and petroleum/chemical products (1.6%). For the three months spanning August to October production increased by 3.8% and sales by 5.4%.

Also noting an upsurge in sales—the retail sector. For the month of October retail sales grew at an annual rate of 3.4%. The largest contributors to the rise were: general dealers (0.8%), clothing and footwear retailers (0.7%) and food/beverage specialty stores (0.6%). Within these categories food and beverages, household furniture and appliances, and hardware and glass recorded the greatest increases. On a month-over-month basis retail sales in October increased at a rate of 0.4%.

A slowdown in the volatile categories food and petrol drove inflation rates down to 5.8% in November from October’s level of 5.9%; food inflation slowed by 0.3% while fuel prices fell by 45 c/l. This decline places South Africa’s inflation rate more firmly inside the Reserve Bank’s inflation target of 3-6 percent.

However, despite these economic advances, the strength of the US dollar has pushed the rand to a new yearly low.

Weekly USD/ZAR Chart

dailyfx dollar rand weekly chart.

Chart Created by Walker England Using MarketScope2.0

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.