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Thinking of trading USDZAR?

    1. South Africa is rich in sectors that mainly comprise mining, fishing and agriculture. Its historically strong industry has been the mining of diamonds and gold, making South Africa one of the leading processing nations in the world. Due to the potential of this industries, trading USD/ZAR can be a great asset to add to your portfolio. 2. Its tourist industry is also important to the economy, with millions of international visitors arriving every year. South Africa's main trading partners, apart from other African nations, including the USA, Germany, Japan, China, the UK and Spain. This is a growing industry and the fact that the pair is constituted with one of South Africa's most important trade partners, give the pair enough volatility for day traders to take advantage of the USD/ZAR.
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US dollar dates back to 1792, when the United States Congress created the US dollar as the country's currency. The ZAR was officially launched in 1961 and its name originates from the word Witwatersrand, which in Afrikaans means white waters ridge. The currency's name refers to a location close to Johannesburg where gold mining was carried out.It dates back to 1792, when the United States Congress created the US dollar as the country's currency. The ZAR was originally worth more than one USD, $1.40 to be exact. It reached parity in 1982 due to the Apartheid situation. Due to the Eskon electricity crisis, the current account deficit, global risk aversion and the slowdown in the economy of China, the ZAR's situation is quickly worsening. South Africa's most important export partner is China, and its economic health depends heavily on it.

1. Traders should keep an eye on the news about political unrest and other social factors such as local unemployment and crime as these are known to have a major impact on the South African economy, the value of the Rand and subsequently on the USD/ZAR. 2. Slowdowns in commodity prices will affect the pair. Also, as any other currency pair dependent on their trade market, if partnered countries such as China show any financial issues it will have an affect on the performance of the pair.