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South African Rand Jun '23 (T6M23)

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South African Rand Futures Market News and Commentary

Dollar Slips on Lower Bond Yields and Stronger Stocks

The dollar index (DXY00) this morning is down by -0.14%.  The dollar today is posting moderate losses, weighed down by lower T-note yields.  Also, today’s stock rally has reduced liquidity demand for the dollar.  In addition, strength in the yen is undercutting the dollar on reports that Japanese authorities intervened in the forex market today in support of the yen.  Losses in the dollar are limited by expectations the FOMC on Wednesday will signal the Fed will delay interest rate cuts at the conclusion of its 2-day meeting.

The markets are discounting the chances for a -25 bp rate cut at 2% for the next FOMC meeting on April 30-May 1 and 13% for the following meeting on June 11-12.

EUR/USD (^EURUSD) today is up by +0.16%.  The euro today is climbing on weakness in the dollar.  The euro also found support from today’s report on German Apr CPI, which rose more than expected, which is a hawkish factor for ECB policy.  In addition, hawkish comments today from ECB Governing... Read more

Contract Specifications

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Contract
South African Rand
Contract Size
ZAR 500,000
Tick Size
0.000025 points ($12.50 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 2:00p.m.) CST
Exchange
CME
Point Value
$500,000
Margin/Maintenance
$1,540/1,400
First Notice Date
06/19/23
Expiration Date
06/16/23 (expired)

Seasonal Chart

South African Rand Jun '23
Average Price Chart for 5 Prior Jun Contracts

Commitment of Traders Positions as of Apr 23, 2024

View Chart Details
Commercials - Long / Short
6,477 (+219)
6,910 (+699)
Non-Commercials - Long / Short
23,613 (-441)
22,569 (-1,376)
Dealers / Intermediary - Long / Short
4,689 (+152)
4,159 (+10)
Asset / Manager - Long / Short
22,885 (-342)
1,846 (+946)
Leveraged Funds - Long / Short
2,391 (-113)
23,315 (-1,646)
Other Reportables - Long / Short
115 (+115)
149 (+47)
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Price Performance

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Period Period Low Period High Performance
1-Month
0.050150 +9.52%
on 06/01/23
0.055150 -0.41%
on 06/16/23
+0.002725 (+5.22%)
since 05/16/23
3-Month
0.050150 +9.52%
on 06/01/23
0.056150 -2.18%
on 03/31/23
+0.001075 (+2.00%)
since 03/16/23
52-Week
0.050150 +9.52%
on 06/01/23
0.061050 -10.03%
on 06/24/22
-0.005400 (-8.95%)
since 06/16/22

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Most Recent Stories

More News
Dollar Slips on Lower Bond Yields and Stronger Stocks

The dollar index (DXY00 ) this morning is down by -0.14%. The dollar today is posting moderate losses, weighed down by lower T-note yields. Also, today’s stock rally has reduced liquidity demand for...

DXY00 : 105.831 (-0.10%)
^EURUSD : 1.07055 (+0.11%)
^USDJPY : 156.855 (-0.94%)
GCM24 : 2,347.4 (+0.01%)
SIN24 : 27.530 (-0.02%)
Stocks Climb on Q1 Earnings Optimism

The S&P 500 Index ($SPX ) (SPY ) this morning is up +0.27%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.28%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.21%. US stock indexes this morning...

$SPX : 5,117.76 (+0.35%)
SPY : 510.28 (+0.40%)
$DOWI : 38,341.63 (+0.27%)
DIA : 383.48 (+0.31%)
$IUXX : 17,770.43 (+0.29%)
QQQ : 432.61 (+0.37%)
ZNM24 : 107-245 (+0.17%)
TSLA : 185.40 (+10.17%)
ALB : 123.90 (+6.01%)
PARA : 12.44 (+4.45%)
DPZ : 511.65 (+2.52%)
HTLF : 41.98 (+17.53%)
Dollar Gains on Persistent US Price Pressures and Yen Weakness

The dollar index (DXY00 ) on Friday rose by +0.37%. The dollar on Friday recovered from a 2-week low and rose moderately. The dollar strengthened Friday as stronger-than-expected US economic reports...

DXY00 : 105.831 (-0.10%)
^EURUSD : 1.07055 (+0.11%)
^USDJPY : 156.855 (-0.94%)
GCM24 : 2,347.4 (+0.01%)
SIN24 : 27.530 (-0.02%)
Europe’s Blossoming Admiration for Crypto

Europe is the second-largest cryptocurrency economy in the world, accounting for 17.6% of global transaction volume. The launch of Micro euro-denominated Bitcoin and Ether futures contracts aim to accelerate...

Stocks Climb on Impressive Tech Earnings and Strength in AI Chip Makers

The S&P 500 Index ($SPX ) (SPY ) this morning is up +1.04%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.35%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.55%. US stock indexes this morning...

$SPX : 5,117.76 (+0.35%)
SPY : 510.28 (+0.40%)
$DOWI : 38,341.63 (+0.27%)
DIA : 383.48 (+0.31%)
$IUXX : 17,770.43 (+0.29%)
QQQ : 432.61 (+0.37%)
ZNM24 : 107-245 (+0.17%)
GOOGL : 168.02 (-2.29%)
MSFT : 401.62 (-1.16%)
DDOG : 130.06 (-1.06%)
MDB : 372.33 (-2.99%)
RMD : 213.24 (-2.21%)
Dollar Climbs as Strong US Economic News May Delay Rate Cuts

The dollar index (DXY00 ) this morning is up by +0.23%. The dollar today recovered from a 2-week low and is moderately higher. The dollar strengthened today as stronger-than-expected US economic reports...

DXY00 : 105.831 (-0.10%)
^EURUSD : 1.07055 (+0.11%)
^USDJPY : 156.855 (-0.94%)
GCM24 : 2,347.4 (+0.01%)
SIN24 : 27.530 (-0.02%)
Stocks Rally on Blockbuster Earnings from Alphabet and Microsoft

The S&P 500 Index ($SPX ) (SPY ) this morning is up +0.55%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.31%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.05%. US stock indexes this morning...

$SPX : 5,117.76 (+0.35%)
SPY : 510.28 (+0.40%)
$DOWI : 38,341.63 (+0.27%)
DIA : 383.48 (+0.31%)
$IUXX : 17,770.43 (+0.29%)
QQQ : 432.61 (+0.37%)
ZNM24 : 107-245 (+0.17%)
GOOGL : 168.02 (-2.29%)
MSFT : 401.62 (-1.16%)
DDOG : 130.06 (-1.06%)
MDB : 372.33 (-2.99%)
RMD : 213.24 (-2.21%)
Elliott Waves On AUDUSD: Short-term Dirrection Is Pointing Higher

The Aussie (AUDUSD) is currently in an uptrend this week, making five waves up from the 0.6363 low, establishing this as our invalidation level. As long as this level is not breached, we expect further...

Dollar Gives Up Early Gains on Stagflation Concerns

The dollar index (DXY00 ) Thursday fell to a 1-1/2 week low and finished down by -0.28%. Stagflation concerns weighed on the dollar Thursday after revised US Q1 GDP showed slower-than-expected economic...

DXY00 : 105.831 (-0.10%)
^EURUSD : 1.07055 (+0.11%)
^USDJPY : 156.855 (-0.94%)
GCM24 : 2,347.4 (+0.01%)
SIN24 : 27.530 (-0.02%)
Dollar Moves Higher as T-Note Yields Jump and Stocks Falter

The dollar index (DXY00 ) today rebounded from a 1-1/2 week low and is slightly higher. The dollar saw support today after bond yields jumped when today’s US economic news showed signs of persistent...

DXY00 : 105.831 (-0.10%)
^EURUSD : 1.07055 (+0.11%)
^USDJPY : 156.855 (-0.94%)
GCM24 : 2,347.4 (+0.01%)
SIN24 : 27.530 (-0.02%)

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 48% Buy with a Strengthening short term outlook on maintaining the current direction.

The market is in highly overbought territory. Beware of a trend reversal.

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Key Turning Points

3rd Resistance Point 0.055500
2nd Resistance Point 0.055325
1st Resistance Point 0.055125
Last Price 0.054925s
1st Support Level 0.054750
2nd Support Level 0.054575
3rd Support Level 0.054375

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52-Week High 0.061050
Fibonacci 61.8% 0.056886
Fibonacci 50% 0.055600
Last Price 0.054925s
Fibonacci 38.2% 0.054314
52-Week Low 0.050150

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