While inflation is moderating, rates appear unlikely to ease in the first half of 2024
3. Shift in Goods vs. Services Inflation Rates: The inflation rate for goods fell from 6.2% in February to 5.7% in March, whereas the inflation rate for services saw a marginal rise to 5.0% from the previous month’s 4.9%.5. Influence of Global Monetary Policy Trends: The SARB’s decision-making regarding interest rate cuts will likely be influenced by monetary policy trends in developed economies.
Traders might look for either an upside break of the 19.10 level for long entry or a bearish price reversal off this level for short entry. Should a bearish price reversal instead form off the 19.10 resistance level, confirmed with a close below 19.00, 18.80 becomes the initial support target, while a close above the 19.40 level might be used as a failure indication.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances.
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