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    In November, South Africa’s net gold and foreign exchange reserves increased to $70.024 billion, up from $69.364 billion.

    by VT Markets
    /
    Dec 5, 2025
    South Africa’s gold and foreign exchange reserves reached $70.024 billion in November, up from $69.364 billion. This increase indicates a stronger financial position for the country. Statistics Canada will release its Labour Force Survey on Friday. The unemployment rate is expected to rise to 7% in November. After a rise in October, employment levels are predicted to stay unchanged. For the third day, the value of Pi Network has fallen and is approaching a local support trendline. Centralized Exchanges are seeing more inflows, suggesting higher selling pressure. Technical indicators, like the Moving Average Convergence Divergence, hint at possible further declines. The expected increase in Canada’s unemployment rate comes just before the Bank of Canada’s interest rate decision. Analysts and market watchers are closely monitoring these changes. The rise in South Africa’s gold and forex reserves to over $70 billion is seen as a stabilizing influence for the rand (ZAR). This marks a multi-year high, enhancing confidence in the central bank’s ability to handle currency fluctuations. Derivative traders might consider selling some ZAR put options since the risk of a sharp drop in value seems to be decreasing. With Canada’s unemployment rate likely reaching 7.0%, a level not seen since the economic challenges of early 2020, we anticipate a dovish stance from the Bank of Canada. This weak labor market data, arriving just before their next interest rate decision, strongly indicates that a rate cut could be likely. Traders may want to think about buying puts on the Canadian dollar or call options on USD/CAD to take advantage of potential declines. We are observing a surge in Pi Network tokens entering centralized exchanges, which typically signals increasing sell pressure. This on-chain data, along with a MACD sell signal, suggests a high chance of breaking below the current support trendline. Derivative traders should be prepared to open short positions using perpetual futures if this support level fails.

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