# The rand report | IG South Africa

> The IG South Africa technical report says the USD/ZAR uptrend was reinforced after the Mid-Term Budget Statement by Finance Minister Malusi Gigaba. The pair reversed from around R13.30 and rallied through short-term targets, with next upside targets at R14.50 and R14.80 per dollar.

- Date: 2017-10-26 · published 2017-10-26T12:00:00.000Z
- Category: market · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/68778-the-rand-report-ig-south-africa
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

The chart analysis shows continued rand weakness, which increases local-currency costs for dollar-priced feed imports. It is technical commentary with no new supply or demand driver for feed commodities.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- ig.com: https://www.ig.com/za/view-ig/the-rand-report-40404-171026

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.