August 19, 2020
Rising world prices for raw materials may support South African rand
The downward movement means the strengthening of the South African rand and the weakening of the euro. South African Reserve Bank rate is 3.5% with inflation rate of 2.2% in annual terms. The ECB rate is zero with inflation rate of 0.4%. Rising prices for precious and non-ferrous metals, as well as for other mineral raw materials, may help strengthen the South African rand. A possible risk for the euro could be the outcome of the European Council’s emergency summit on the situation in Belarus. It will take place on Wednesday. Note that both the EU and South Africa will release construction data on Thursday.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Neutral | |
| MA(200) | Neutral | |
| Fractals | Neutral | |
| Parabolic SAR | Sell | |
| Bollinger Bands | Neutral |
Summary of technical analysis
| Order | Sell |
| Buy stop | Below 20,4 |
| Stop loss | Above 21,1 |
Market Analysis provided by IFCMarkets.com
- The Bank of Canada and the FOMC kept interest rates unchanged Mar 19, 2026
- Oil prices are holding around 95 dollars per barrel. Bank Indonesia kept its key rate unchanged Mar 18, 2026
- EUR/USD Awaits Fed Decision Mar 18, 2026
- GBP/USD Pauses Ahead of Bank of England Rate Decision Mar 17, 2026
- The RBA raised the rate to 4.1% amid a surge in fuel prices. The Canadian dollar strengthened following the inflation data release Mar 17, 2026
- RoboForex Launches Swap-Free Trading for All Clients Mar 16, 2026
- Gold Continues to Decline Amid Fed Expectations Mar 16, 2026
- Investors begin pricing in prolonged stagflation due to the blockade of the Strait of Hormuz Mar 16, 2026
- Iran wants to maintain the blockade of the Strait of Hormuz until the United States closes all its bases in the Middle East Mar 13, 2026
- USD/JPY at Highest Since July 2024: Market Awaits BoJ Intervention Mar 13, 2026
