Local Factors
GDP growth: SA’s economy expanded 0.5% q/q and 1.9% y/y, modestly above forecasts, briefly lifting sentiment.
Manufacturing weakness: April data disappointed, underscoring persistent structural constraints in the domestic economy. #usdzar
I will be attending the FMAS26
This is a fantastic opportunity to connect, exchange insights, and explore the latest trends shaping finance and fintech across Africa. I’d love to meet up with you there—to catch up in person.
The Rand’s strength was partly due to year-end demand for local currency and global USD softness.
Traders should watch for South African economic data releases and US interest rate policy, which could shift momentum in mid-January.
XAUUSD Weekly Market Analysis
I am anticipating a downside which should reach 3245 - 3220 which will then trigger my point of interest to consider trade opportunities within my preferred demand zone.
#goldspot#Xauusdgold