Currency Forecasts
South Africa
The South African rand continues to range trade, with key resistance at ZAR7.20/US$ and key support at ZAR7.60/US$ unlikely to be tested over the near term. Indeed, the currency has...
2010-01-20Kenya
Having weakened in the final two weeks of 2009 due to local seasonal forex demands, the Kenyan shilling has begun to edge higher early in 2010. However, given that the shilling has...
2010-01-14Tanzania
The Tanzanian shilling remains rangebound, having traded between TZS1,345/US$ and TZS1,280/US$ since February 2009. The bounds of this range represent key technical levels, with a...
2009-12-03Uganda
In line with the improving state of macroeconomic fundamentals in Uganda and a rise in global risk appetite, the shilling has been strengthening continuously since July 2009. We turned...
2009-11-10Ghana
The Ghanaian cedi is enjoying an appreciatory run in line with the bullish view which we initiated on August 10, and we hold to our constructive outlook. The currency is being buoyed...
2009-11-05Nigeria
Following a period of considerable exchange rate volatility in Q309, we expect the naira to remain relatively over the short term. This view is premised on easing supply constraints...
2009-10-08Egypt
The pound continues to look good against the US dollar, with the medium-term uptrend still in place. The short-term risks are of a dollar bounce against the euro, and we expect the...
2009-09-21Angola
The downside pressure on the Angolan kwanza has receded, and we now believe that the current level of AOA77.40/US$ will hold over the remainder of 2009. Oil revenues are rising and...
2009-09-15
