ZAR and TRY: central banks bring the action

ZAR and TRY: central banks bring the action

What may bring the action to the exotic currencies besides the risk sentiment determined by the global situation in the economy? Of course, the central banks.

On Thursday, January 16 two central banks: the Reserve bank of South Africa and the Turkish Central Bank will make their interest rate decisions.

What do we need to expect?

The Turkish Central bank – 13:00 MT time

The regulator keeps struggling with pressure from the government to support economic growth. For instance, Turkish president Recep Tayyip Erdoğan announced that inflation and interest rates will continue to drop in 2020. Thus, easing measures may extend.  According to forecasts, the TCB is likely to continue a series of rate cuts and is going to reduce it by 50 basis points to 11.50%.  If the cut is larger than the forecast, USD/TRY will rise. Otherwise, we will see a fall.

On the daily chart, the pair is consolidating close to the support at 5.8375. If the lira is supported, the pair will break the current support and target the next level at 5.75. On the other hand, the weaker lira will push the pair up towards the resistance at 5.9195. The next resistance in the bulls’ focus will lie at 5.9640.


The Reserve bank of South Africa – 15:00 MT time

Reportedly, the South African Reserve bank will keep its interest rate unchanged at 6.5%, as the bank needs further details on a February budget and rating review by Moody’s. The rating agency moved the country’s investment rating from stable to negative in November, which was a hurtful decision for the economy of the African country. Thus, any unexpected announcements will move the ZAR.

The daily chart of USD/ZAR shows that the pair is trying to form the uptrend. It needs the break above the 14.47 level to move higher to the 14.5650 level. If the central bank strengthens the South African rand by its comments, the pair will slide to the support at 14.15.




ZAR: an intriguing speech
ZAR: an intriguing speech

The South African Finance Minister is delivering a budget speech today. There may be a strong impact on ZAR, so what's going to happen?

Latest news

Where is Dogecoin?
Where is Dogecoin?

Did the era of the Dogecoin, the most famous cryptocurrency, come to its end, or it is just a calm before the storm? Let’s find out!

Key Market Driver: FOMC Statement
Key Market Driver: FOMC Statement

The FOMC, a committee within the Federal Reserve, will hold an important meeting and press conference on September 22 at 21:00 MT time (GMT+3).

Deposit with your local payment systems

Be on top of your game

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera