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CIBC forecasts USD/ZAR at 17.20 for the third quarter and 17.00 for the fourth quarter of 2020. The bank says speculative investors had raised long rand positions and foreign investors returned to local bonds, but this depends on continued risk appetite.
CIBC also flagged rising Covid cases and the lockdown extended to the end of September.
The forecast is an analyst view on currency direction and does not change current feed commodity supply or demand.
octaafrica.netJul 28, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
