Non Farm Payrolls Non Farm Payrolls Non Farm Payrolls Non Farm Payrolls Non Farm Payrolls South African Rand Forecast

The Pound to Rand exchange rate rallied early in the new week as a rising U.S. Dollar weighed on other currencies while Sterling benefited from the appointment of a new UK Prime Minister, although further gains could potentially be limited by a resilient show from South Africa’s economy.

The South African Rand climbed against most of the currencies in the G20 bucket during the opening half of the week and could lead GBP/ZAR to one month lows with a break back beneath the 20.0 handle in the days ahead if the stalling Dollar brings high yielding currencies back into fashion among investors.

The Japanese Yen tumbled across the board ahead of the weekend after show stopping employment and wage figures appeared to bait an already hawkish Federal Reserve (Fed) and shocked U.S. government bond yields back into life.

The Pound to Rand exchange rate rose to five month highs during the opening half of the week but lost momentum upon contact with an emerging layer of technical resistance around 20.6248 on the charts, which could continue to obstruct Sterling’s path higher in the days ahead. 

The Euro narrowly avoided a brush with the psychologically significant level of parity against the Dollar in the final session of the week but was last seen struggling to fend off an advancing greenback after U.S. non-farm payrolls figures surprised on the upside of market expectations for June.

The Pound to South African Rand exchange rate entered the new week close to three-month highs but would risk slipping back toward the 19.50 level or below in the days ahead if the Dollar remains soft or negotiations over a disruptive labour strike at energy monopoly Eskom are succesful at curtailing disruptions to the electricity supply.  

The Pound to Rand exchange rate has stabilised above the 19.0 handle with support from a turn higher by the U.S. Dollar but would likely struggle to advance beyond the nearby 19.90 level if USD/ZAR remains contained by its 2022 high around 16.32 in the days and weeks ahead.  

The Pound to Rand rate fell to its lowest for almost two months early in the new week but could be likely to stabilise above the nearby 19.27 level over the coming days after the South African currency was stalled by a series of key resistance levels against the Dollar on the charts.

The Pound to Dollar exchange rate rebounded from earlier losses late this week but was hampered again in thin holiday trade on Friday after the May non-farm payrolls and Services PMI reports offered an incitement to a Federal Reserve (Fed) that appeared to become more hawkish in recent days. 

The Pound to Rand exchange rate is trading within a narrowing consolidation range that could be likely to span the gap between 19.4733 and 19.8564 in the days ahead, although directional risks may be on the upside if the Dollar finds its feet following a fortnight-long decline. 

The Pound to Rand rate eased lower in the opening session of the new week and could be set to remain sidelined beneath its early May highs as the South African currency benefits from a supportive central bank policy outlook, a softening of the U.S. Dollar and a partial rebound by the Renminbi.

The Pound to Rand exchange rate has attempted to further its April rebound in recent trading but could struggle for upward momentum on any recovery above 20.00 and would be at risk of sliding back toward 19.45 in days ahead as and when the USD/ZAR pair eases further from its latest highs.

The U.S. Dollar Index stalled as other currencies in the barometer found support following a non-farm payrolls report that showed the employment recovery continuing while wage growth moderated in April with potentially dampening implications for the medium-term inflation outlook.

The Japanese Yen tumbled during the final session of the week when the Dollar rose sharply alongside interest rate differentials and as stock markets advanced broadly amid an evident improvement in investor risk appetite, leading some to reset their sights on the 125 level of USD/JPY.

The South African Rand looks to be entering a short-term period of strength and further advances against the Pound, Euro and U.S. Dollar beckons, according to new studies.

\The U.S. Dollar retreated against the Euro, Pound and other major currencies following the release of a softer-than-expected set of labour market statistics out of the United States.

The Dollar holds gains ahead of the Friday release of U.S. jobs data which is likely to be the most important economic reading of some time, with analysts warning that disappointment could lead to a sizeable retreat by the U.S. currency.

The Dollar remained an outperformer among major currencies on Friday although its strength was abating after February non-farm payrolls report revealed a sharp increase in new jobs last month, around the same time as trade balance data showed U.S. imports growing faster than exports in the New Year.

The Dollar Index reversed lower Friday while other currencies were lifted by default when non-farm payrolls figures showed the U.S. job market cracking around year-end and after a period when coronavirus containment efforts were again closing down parts of the world's largest economy. 

The U.S.labour market defied expectations on Friday when Bureau of Labor Statistics data revealed further job gains that helped push the unemployment rate a full percentage point lower in October, but with political uncertainty rising and the coronavirus resurgent, the outlook has grown murkier already in November.