The daily momentum was for sure going to take this out, EUR fundamentals were heavily weakening over the past week and ZAR was strenghtening especially their recent news:
- Retail sales grew to 1.2% showing consumer confidence in South Africa
- PPI breached forecsats by 0.1% which is healthy for producers
- Interest rate decisions had no signs of dovish action so investor money flow should continue flowing into South Africa
- Trade balance showing a huge surplus
StockWolFX
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@mattycheung, Good point, I appreciate your response. Definitely good points on euro weakness.
- Retail sales grew to 1.2% showing consumer confidence in South Africa
- PPI breached forecsats by 0.1% which is healthy for producers
- Interest rate decisions had no signs of dovish action so investor money flow should continue flowing into South Africa
- Trade balance showing a huge surplus