Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

The USD/ZAR currency pair hovered just above a fresh 5-month low of 17.9760 on Tuesday ahead of a planned meeting between President Cyril Ramaphosa and US President Donald Trump in Washington.

The South African delegation arrived in the US yesterday to hold talks with the Trump administration, seeking to renew strained ties between the two countries.

The meeting between the two heads of state will take place on Wednesday.

In the meantime, Finance Minister Enoch Godongwana is to make his third attempt to pass a budget in parliament on Wednesday, since disputes with coalition partners over value-added tax raise plans overcame two prior attempts.

Rand traders will also be paying attention to South African CPI inflation and retail sales data prints.

In addition, several Federal Reserve officials are expected to make speeches later in the day, with investors looking for more insight into macroeconomic conditions and the Fed’s future policy trajectory.

The USD/ZAR currency pair was last down 0.26% on the day to trade at 18.0394.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • Apple Taps Google’s Gemini to Power Next-Generation SiriApple Taps Google’s Gemini to Power Next-Generation Siri Key Moments Apple signed a multi-year agreement to use Google’s Gemini models for a redesigned Siri and future Apple Intelligence features. The deal builds on Google’s role powering Samsung’s "Galaxy AI" and serving as the […]
  • Lowe’s posts a 6.3% increase in its fourth quarter profitLowe’s posts a 6.3% increase in its fourth quarter profit Lowes Companies Inc., which is currently the second-largest home-improvement chain in the U.S., announced that its profit in the fourth quarter increased by 6.3% as the US housing market recovery boosted renovation spending. In addition, a […]
  • Windows phone grabs market share in EuropeWindows phone grabs market share in Europe Windows Phone managed to record its highest share of smartphone sales in leading European markets, hinting that Microsoft’s operating system is finally gaining recognition just as Nokia prepares to offload its handheld device business.The […]
  • AUD Retreats as Fed and Energy Risks Cloud OutlookAUD Retreats as Fed and Energy Risks Cloud Outlook Key Moments AUD/USD trades near 0.7060 in Asian hours after giving back prior-day gains as the US Dollar firms ahead of key inflation data. Market-implied probability of a 25-basis-point Fed hike in September slips to nearly […]
  • AUD/USD snaps four-day losses on RBA Lowe’s comments, NZD/USD gainsAUD/USD snaps four-day losses on RBA Lowe’s comments, NZD/USD gains Australian dollar snapped a four-day loss against its US counterpart on Tuesday, after Reserve Bank of Australias Deputy Governor Philip Lowe cooled recent speculation that the bank was close to intervention in the currency market, as the bar […]
  • Euro Slides as Tensions Fuel Flight to Safety TradeEuro Slides as Tensions Fuel Flight to Safety Trade Key Moments EUR/USD falls about 0.3% to trade near 1.1590 during the Asian session amid heightened geopolitical tensions. Reports of Iranian retaliation near Bandar Abbas and attacks on US military bases weigh on risk […]