# BREAKING: USDZAR surges after dismal GDP report | XTB

> 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.

- Date: 2019-12-03 · published 2019-12-03T12:00:00.000Z
- Category: macro · region South Africa · magnitude low
- Page: https://feedsoft.ai/events/55839-breaking-usdzar-surges-after-dismal-gdp-report-xtb
- Commodities: [South African Rand (ZAR per USD)](https://feedsoft.ai/c/USDZAR.md)

## Why it matters

A weaker rand raises the local-currency cost of imported feed ingredients for South African buyers, and the recession risk weighs on domestic demand.

## Read by commodity

- USDZAR: bullish ▲

## Sources

- xtb.com: https://www.xtb.com/en/market-analysis/breaking-usdzar-surges-after-dismal-gdp-report

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.