Thoughts on $ZARUSD and SA CPI next week

With South Africa's CPI figures due out next week, I'm looking at $ZARUSD. Currently around 0.0609787, there's a good chance we'll see a retest of the 0.0605 support zone if the print comes in hotter than expected, indicating persistent inflation pressures. Conversely, a softer number might offer the Rand some breathing room, potentially pushing it back towards 0.06155437, but I’d give that about 30% odds given the current global risk appetite. The market seems to be pricing in a hold from SARB, but persistent inflation could shift that narrative quickly.