1:20 PM · 17 September 2019

USDZAR soars on oil, USD demand

USDZAR is one of the biggest movers this Tuesday supported both by surging oil prices and USD demand. A spike in short term US dollar market interest rates does not serve emerging markets while South Africa relies on oil imports – that’s the reason USDZAR is moving up by over 1%. Moreover, USD has been supported by strong report on industrial output (+0.6% m/m). The pair has rebounded from support of 14.55 and faces resistance around 15.10.

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ECB Conference: Global Uncertainty, Policy Stability 💶

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BREAKING: Germany's CPI above expectations! 💶🔥

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