News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
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
Wall Street
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
Gold
Mixed
GBP/USD
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:https://t.co/qxQwHgD9Ey https://t.co/ym73tgtHLn
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:https://t.co/HuXPXu5PFU https://t.co/ytHqOoHnxQ
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:https://t.co/OMNoNHn2vZ https://t.co/155l4SQU6P
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:https://t.co/c89gcaNhTt https://t.co/vkLRsG8KEn
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:https://t.co/JoaUMTv80S https://t.co/Hl4I8Gl7Ez
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/6lPNDoWZAw
  • The gold price rebound keeps XAU/USD within the confines of the August downtrend. From a trading standpoint. Get your $XAUUSD market update from @MBForex here:https://t.co/B3Jct6mIBD https://t.co/gHAtO2jcrp
  • Gold recovered from a steep sell-off this morning to finish the day just lightly lower $XAU $USD https://t.co/lkcyL8gts9
  • Forex Update: As of 21:00, these are your best and worst performers based on the London trading schedule: 🇪🇺EUR: 0.05% 🇨🇭CHF: 0.01% 🇯🇵JPY: -0.25% 🇳🇿NZD: -0.55% 🇦🇺AUD: -0.64% 🇨🇦CAD: -0.75% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/UVTYrLMwRS
  • Commodities Update: As of 21:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: -0.54% Gold: -0.87% Silver: -1.82% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/3BoduI6beG
SARB Maintains Base Rate as Manufacturing Outlook Improves

SARB Maintains Base Rate as Manufacturing Outlook Improves

Walker England, Kara Dailey,

Talking Points:

  • SARB maintains base rate at 5.75%
  • While PPI fell to 5.8% in December, the manufacturing PMI increased to 54.2 in January
  • USDZAR may be developing into a Flag Formation

Remaining in the process of interest rate normalization, the South African Reserve Bank elected to hold interest rates steady at 5.75%.After considering the effects inflation and global growth have had on the economy, the MPC concluded that they only have reason to pause; a more sustained decline in inflation and inflation expectations would be needed to reverse course and engage in accommodative policies. The committee instead remains optimistic, as lower energy prices moderated December’s PPI and drove an increase in January’s manufacturing PMI.

A 14.7% (y/y) decline in fuel prices more than offset the 8.0% increase in the food/beverage/tobacco category. As a result producer prices dropped from 6.5 to 5.8 percent. Coupled with a weaker Rand, the lower energy/input costs lead to an increase in expected business conditions 6 months out. Consequently the Kagiso Manufacturing PMI rose by 4 points from 50.2 to 54.2.

The seasonally adjusted index was driven by a substantial improvement in the business activity component which increased from 51.6 to 61.7. Also expanding in the first month of 2015: new sales orders (+ 1.1%) and inventories (+9.2). In contrast the employment index declined to 43.8 from 46.3 as the price index fell to 61.9. However, the fall in PMI prices may prove beneficial, potentially indicating that a PPI slowdown may continue into 2015.

USDZAR Daily Chart

dailyfx US dollar South African Rand daily chart February 2015

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