US Dollar / Rar Forecast Rand Under Pre-Trading Pressure, CPI Focus

Rand Analysis

  • Strong Dollar Open Thames Rand Bulls.
  • Rand-related products are less open.
  • Omicron distribution in China could hurt ZAR.

Czar’s basic background

After last week Non-Farm Salary (NFP) The Greenback trade is slightly higher this morning as it penetrates deeper into the data and shows significant potential for the U.S. labor market. Unemployment rates and wage data are getting stronger so b Falcon slant from Federal Reserve. This works well USD In recent weeks, however, there has been significant accumulation of long-term volatility as markets support the dollar, indicating that Fed hawkishness is largely worth it. open up Rand The basics must allow.

Although the federation is expected to raise prices significantly (thereby reducing trade), the South African Reserve Bank (SARB) has hinted that it will not remain idle. However, rising U.S. treasury production continues to support the growing dollar.

Later this week (see calendar below) US Inflation If the actual figure is higher than before, further pressure may be placed on the dollar bulls. Although the main (federal preferred) forecast is missing, it remains high 4.9%, Markets are likely to prefer stronger dollars.

Dollar / Czar Economics Calendar

Source: DailyFX Economics Calendar

South African Battalion Commodity Export gold, iron, Platinum And coal is all under pressure in an early transaction that did not support the local currency.

According to Covid-19, the possibility of a shutdown in China after a mass test in the main port city of Tianjin could not be ruled out. This could undermine global commodity prices and take over food supplies. Emerging Market (M) Currencies such as Rand.

Technical analysis

USD / ZAR daily Chart

USD / ZAR Daily Chart

Table prepared Warren Venketas, I.G.

After hitting a hot 2022 low on Friday, the USD / ZAR gained support 15.5563. Of Bull flag Channel (Blue) will be extended this week and may be in play for some time before the split. It stays in the key position of the surrounding connections for the next low point 15.5000Psychological level (Coinciding with the 100-day) EMA And 50% Fibonacci).

Momentum supports the lower side of the USD / ZAR Relative Strength Index (RSI) Below 50 points below average.

Resist Stages:

  • 16,0000
  • 50 and 20-day EMA’s respectively

Support Stages:

  • 15.5563
  • 15.4289 / 100-day EMA


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