USD/ZAR: Easy gains for the Rand are likely behind us – SocGen

Market news

20 June 2023

USD/ZAR: Easy gains for the Rand are likely behind us – SocGen

Inflation data from South Africa is due tomorrow. Economists at Société Générale analyze Rand outlook ahead of the report.

USD/ZAR faces psychological support at 18.00

A decline in headline to 6.5% YoY in May from 6.8% is the consensus and may support the ZAR via higher real rates.

Easy gains for the Rand are likely behind us.

USD/ZAR faces psychological support at 18.00. The 200-Day Moving Average runs just below 17.97 and has proved a tough obstacle at least three times in the last 12 months.

Currencies. Daily history for Tuesday, June 20, 2023

Commodities. Daily history for Monday, June 19, 2023

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