US Dollar vs. South African Rand (USDZAR)- 17 October 2024

Macro Updates Oct 17, 2024

You will come across specific terms in these notes (FLD, VTL, and so on). Rather than explain them each time, you will find definitions here: guidance notes for Hurst cycles terminology.

USDZAR - pro-trend rally towards the next 40 day cycle peak.

The South African Rand (ZAR) is sensitive to industrial metals prices, which in turn makes it a China and a global growth play. Other things equal and simply put, if ZAR strengthens, then the industrial metals market is robust; if it falls then the reverse is true.

Christopher Grafton CMT

Chris has been involved in the markets for 20 years. He is the author of Mastering Hurst Cycle Analysis and is an experienced working technician. Chris holds the CMT qualification.