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The USD/ZAR rose 0.75% on December 3 after South Africa's third-quarter GDP contracted 0.6% quarter-on-quarter, cutting annual growth to 0.1%. The rate was rebounding from 14.50 support.
A weaker rand raises the local-currency cost of imported feed ingredients for South African buyers, and the recession risk weighs on domestic demand.
xtb.comDec 3, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
