Results for South Africa
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Eight FX Considerations for the New Week

January 21, 2013
The US dollar begins the week mostly firmer.  The notable exception is the Japanese yen, which has seen some position adjustment ahead of the outcome of the BOJ meeting tomorrow.  In Asia, and Europe thus far, the dollar has found support near its five day moving average and the 38.2% retracement of its latest leg up (from Jan 16), both of which c…
Eight FX Considerations for the New Week Eight FX Considerations for the New Week Reviewed by Marc Chandler on January 21, 2013 Rating: 5
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FX Positioning and Technical Outlook: Trend is Your Friend?

September 15, 2012
Nearly every development in recent days has been embraced by the foreign exchange market as a reason to continue to do what it has been doing since late July, and that is to sell the dollar.   

The German Constitutional Court ruling, allowing the European Stability Mechanism to go forward, which in turn bolsters the ECB's Outright Monetary Tra…
FX Positioning and Technical Outlook: Trend is Your Friend? FX Positioning and Technical Outlook:  Trend is Your Friend? Reviewed by Marc Chandler on September 15, 2012 Rating: 5
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Position Adjustments in the Currency Futures and More

March 31, 2012
Initial post and a a typo regarding the net long Australian dollar futures position.  It has been corrected here.  

Most observers who look at the weekly Commitment of Traders report in the currency futures market focus on the net non-commercial or speculative positioning.  The speculative positions rather than the commercial positions are studied…
Position Adjustments in the Currency Futures and More Position Adjustments in the Currency Futures and More Reviewed by Marc Chandler on March 31, 2012 Rating: 5
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Today's Developments and 4 Important Observations

March 26, 2012
The US dollar is broadly firmer against the major currencies to start the week, but remains well confined to ranges seen at the end of last week. The market lacks conviction after shrugging off the disappointing European flash PMIs last week. Even though Italian and Spanish bonds are firmer today, outperforming Germany, we detect a deterioration o…
Today's Developments and 4 Important Observations Today's Developments and 4 Important Observations Reviewed by Marc Chandler on March 26, 2012 Rating: 5
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Fragmentation of Risk-on/Risk-off Matrix

March 15, 2012
One of the most important developments in the foreign exchange market is the fragmentation of the risk-on/risk-off matrix that was a key feature since the onset of the financial crisis.  While cognizant of the non-linear nature of the capital markets and the fact that returns are not normally distributed, we continue to find use in monitoring the …
Fragmentation of Risk-on/Risk-off Matrix Fragmentation of Risk-on/Risk-off Matrix Reviewed by Marc Chandler on March 15, 2012 Rating: 5
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South Africa Surprises with a 50 bp Cut

March 25, 2010
South Africa's central bank surprised the market with a 50 bp rate cut that brings the key repo rate to 6.5%. A Bloomberg survey found only 2 of 24 surveyed expected a cut. While we had recognized the risk of a cut, news yesterday that Feb inflation was in line with expectations (5.7% year-over-year vs 6.2% in Jan) and still at the upper end o…
South Africa Surprises with a 50 bp Cut South Africa Surprises with a 50 bp Cut Reviewed by Marc Chandler on March 25, 2010 Rating: 5
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ZAR Best Performing Currency

November 23, 2009
The South African rand is the strongest currency today, gaining 1.87% against the sagging greenback. Several factors are helping lift the rand.
Many are linking the rally in gold to new record highs with the rand's strength. Year to date the correlation between dollar-rand and gold is -18.8%. The euro has been more correlated with gold year to…
ZAR Best Performing Currency ZAR Best Performing Currency Reviewed by magonomics on November 23, 2009 Rating: 5
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South African Rand Stalls

July 01, 2009
The South African rand has been the strongest currency this year, appreciating 23% against the dollar in H1. Since putting its recent low (with the dollar at ZAR8.28) on June 23, the rand has appreciated every day, for a cumulative gain of 6.2%, until today. The rand is off by a little more than 0.5%. The ostensible cause of the modest profit taki…
South African Rand Stalls South African Rand Stalls Reviewed by magonomics on July 01, 2009 Rating: 5
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Copper and Currencies

May 18, 2009
Copper prices were among the first of the industrial raw materials to bottom. Some investors and economists regard copper as a leading economic indicator even though they are aware of the increase role for fiber optic cables and other substitutes for what some call "red gold". Copper's low was set on Xmas eve and since then has been …
Copper and Currencies Copper and Currencies Reviewed by magonomics on May 18, 2009 Rating: 5
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