Currency Forecasts

The Ghanaian cedi has been in an appreciatory trend channel since mid-March, and we expect the gains to be extended over the short term. Certainly, the fundamentals augur for cedi strength:... 2011-05-11

The South African rand has made a bullish break through the ZAR6.7500/US$ resistance level, auguring for further gains towards ZAR6.5000/US$ over the short term. Aside from the technicals,... 2011-04-07

Over the short term, the Botswana pula is expected to power through the key resistance level of BWP6.450/US$, as we believe the South African rand - the key component of the currency... 2011-04-07

After a sharp sell-off and a subsequent recovery in March, the short-term outlook for the Kenyan shilling remains uncertain. Thirst for expensive oil will lead to demand for dollars... 2011-04-06

The Ethiopian birr is trading at about ETB16.742/US$, as the currency continues to slide gradually after a sharp devaluation in September 2010. The currency's value is managed by the... 2011-03-17

Our near-term outlook on the Israeli shekel is bullish. The unit has appreciated steadily against the US dollar since early February, and we foresee the possibility of further gains... 2011-03-10

Like its counterparts in Kenya and Uganda, the Tanzanian shilling is near its all-time low of TZS1,525/US$ which serves as technical support. However, we believe that a move significantly... 2011-03-10

As the Angolan economy continues to recover from the oil price shock of 2008-2009, the fundamental outlook for the currency has also improved. Strangely, this has not been reflected... 2011-03-01

Our core views sees elevated volatility across Egyptian financial markets in the near term, and the FX market will be no exception. Having plunged through a key level of trendline support... 2011-02-17

Since finding a bottom at MZNX/US$ in the third quarter of 2010, the metical has made a strong recovery to trade at MZN31.50/US$ on February 14, implying X% of gains from its nadir.... 2011-02-15