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South African Rand Mar '23 (T6H23)

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South African Rand Futures Market News and Commentary

Dollar Firms with T-note Yields

The dollar index (DXY00) on Friday rose by +0.07%.  The dollar Friday posted modest gains, supported by higher T-note yields.  Also, Friday’s U.S. reports showed the University of Michigan Jan consumer sentiment climbed to a 9-month high, and Dec pending home sales unexpectedly increased, which were bullish for the dollar.  Strength in stocks Friday cubed liquidity demand for the dollar.

Friday’s U.S. economic news was primarily bullish for the dollar.  Dec personal income rose +0.2% m/m, right on expectations.  Also, Dec pending home sales unexpectedly rose +2.5% m/m, stronger than expectations of -1.0% m/m and the biggest increase in 14 months.  In addition, the University of Michigan U.S Jan consumer sentiment was revised up by +0.3 to a 9-month high of 64.9.  On the bearish side, Dec personal spending fell -0.2% m/m, right on expectations and the biggest decline in a year.

EUR/USD (^EURUSD) on Friday fell by -0.21%.   A stronger dollar Friday weighed on the euro.  Al... 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
$1,980/1,800
First Notice Date
03/13/23 (42 days)
Expiration Date
03/13/23 (42 days)

Seasonal Chart

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

Commitment of Traders Positions as of Jan 24, 2023

View Chart Details
Commercials - Long / Short
3,237 (-143)
5,184 (+156)
Non-Commercials - Long / Short
5,333 (-2,228)
4,129 (-2,682)
Dealers / Intermediary - Long / Short
2,343 (+1)
2,190 (-160)
Asset / Manager - Long / Short
3,478 (-2,278)
2,669 (+556)
Leveraged Funds - Long / Short
2,722 (-118)
4,427 (-2,946)
Other Reportables - Long / Short
0 (unch)
0 (unch)
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Price Performance

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Period Period Low Period High Performance
1-Month
0.057050 +1.58%
on 01/06/23
0.059675 -2.89%
on 01/12/23
-0.000500 (-0.86%)
since 12/30/22
3-Month
0.053750 +7.81%
on 11/03/22
0.059675 -2.89%
on 01/12/23
+0.003525 (+6.48%)
since 10/28/22
52-Week
0.053600 +8.12%
on 10/13/22
0.066275 -12.56%
on 04/13/22
-0.002550 (-4.21%)
since 01/28/22

More South African Rand Quotes

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Most Recent Stories

More News
Update for the Week of Jan 30 2023

Stocks were higher this week with SP500 futures trading close to 4100 area; still, a strong potential technical resistance where we are aware of a new turndown, especially if USD will recover. One of the...

Dollar Firms with T-note Yields

The dollar index (DXY00 ) on Friday rose by +0.07%. The dollar Friday posted modest gains, supported by higher T-note yields. Also, Friday’s U.S. reports showed the University of Michigan Jan consumer...

DXY00 : 101.927s (+0.09%)
^EURUSD : 1.08710 (+0.02%)
^USDJPY : 129.604 (-0.19%)
GCJ23 : 1,947.7 (+0.11%)
SIH23 : 23.765 (+0.61%)
Stocks Recover Early Losses as U.S. Inflation Cools

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.29%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.26%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.50%. U.S. stock...

$SPX : 4,070.56 (+0.25%)
SPY : 405.68 (+0.23%)
$DOWI : 33,978.08 (+0.08%)
DIA : 339.61 (+0.07%)
$IUXX : 12,166.60 (+0.96%)
QQQ : 296.26 (+1.00%)
AXP : 172.31 (+10.54%)
LHX : 212.10 (+7.92%)
STX : 68.99 (-0.03%)
V : 231.44 (+2.99%)
INTC : 28.16 (-6.41%)
KLAC : 399.37 (-6.85%)
EURUSD Testing Wedge Support Ahead of US PCE

From an Elliott wave perspective, we see EURUSD wedge that can be the opposite signal so we are aware of a turn south, but ideal timing for a break can be next week with some CB policy announcements.

U.S. Economic Strength Boosts the Dollar

The dollar index (DXY00 ) on Thursday rose by +0.19%. The dollar Thursday recovered from a 7-3/4 month low and posted moderate gains. Better-than-expected U.S. economic news Thursday showed economic...

DXY00 : 101.927s (+0.09%)
^EURUSD : 1.08710 (+0.02%)
^USDJPY : 129.604 (-0.19%)
GCJ23 : 1,947.7 (+0.11%)
SIH23 : 23.765 (+0.61%)
Stocks Climb on Tech Strength and U.S. Economic Optimism

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.70%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.23%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.48%. U.S. stock...

$SPX : 4,070.56 (+0.25%)
SPY : 405.68 (+0.23%)
$DOWI : 33,978.08 (+0.08%)
DIA : 339.61 (+0.07%)
$IUXX : 12,166.60 (+0.96%)
QQQ : 296.26 (+1.00%)
TSLA : 177.90 (+11.00%)
STX : 68.99 (-0.03%)
CVX : 179.45 (-4.44%)
NUE : 166.87 (-1.74%)
NOW : 458.86 (-0.91%)
PKG : 138.41 (-0.15%)
Dollar Falls on Speculation Fed May Soon Pause Rate Hikes

The dollar index (DXY00 ) on Wednesday fell by -0.27%. The dollar Wednesday gave up an early advance and moved mildly lower on speculation the Fed will soon pause its rate hike campaign after the Bank...

DXY00 : 101.927s (+0.09%)
^EURUSD : 1.08710 (+0.02%)
^USDJPY : 129.604 (-0.19%)
GCJ23 : 1,947.7 (+0.11%)
SIH23 : 23.765 (+0.61%)
Stocks Slump as Microsoft’s Sales Warning Hammers Tech Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -1.43%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.91%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -2.32%....

$SPX : 4,070.56 (+0.25%)
SPY : 405.68 (+0.23%)
$DOWI : 33,978.08 (+0.08%)
DIA : 339.61 (+0.07%)
$IUXX : 12,166.60 (+0.96%)
QQQ : 296.26 (+1.00%)
MSFT : 248.16 (+0.06%)
DDOG : 77.23 (+1.62%)
AMZN : 102.24 (+3.04%)
GOOGL : 99.37 (+1.90%)
ADBE : 370.71 (+1.34%)
NDAQ : 60.50 (+0.65%)
Wedge Shape Suggests That Dollar Can be Moving Into A Support

Wedge patterns can be supportive for the USD.

Will the US Dollar and Commodity Bull Market Resume?

Many traders would argue that commodity prices and the US Dollar are inversely correlated. We will discuss their upcoming seasonal patterns that may convince these traders that sometimes these markets...

GSG : 21.20 (-1.30%)
UUP : 27.47 (+0.15%)

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 24% Buy with a Weakest short term outlook on maintaining the current direction.

Long term indicators fully support a continuation of the trend.

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Key Turning Points

3rd Resistance Point 0.058450
2nd Resistance Point 0.058250
1st Resistance Point 0.058075
Last Price 0.057950
1st Support Level 0.057700
2nd Support Level 0.057500
3rd Support Level 0.057325

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52-Week High 0.066275
Fibonacci 61.8% 0.061433
Fibonacci 50% 0.059937
Fibonacci 38.2% 0.058442
Last Price 0.057950
52-Week Low 0.053600

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Barchart Futures Commentary

Barchart Futures is a twice weekly newsletter that features a selection of the latest and best commodities commentary appearing on Barchart.com. Delivered every Wednesday and Friday morning to your inbox.

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