Speculators are still net-long USDZAR, but the position is shrinking.
This suggests weakening bullish conviction → early bearish shift.
Broad USD weakness across markets (possible Fed dovishness, softer inflation, etc.).
mproved sentiment for emerging markets.
Possible support from commodities and local rate differentials. So we very bearish.
This suggests weakening bullish conviction → early bearish shift.
Broad USD weakness across markets (possible Fed dovishness, softer inflation, etc.).
mproved sentiment for emerging markets.
Possible support from commodities and local rate differentials. So we very bearish.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.