CD South Africa: Data risks pick up
Currencies Direct May 19th 2015 - < 1 minute read
It was a quiet start to the week as global markets were driven by EUR/USD. The drop in EUR/USD saw the rand rise to 11.90/$ and drop to 13.40/€, with data risks set to add volatility for the remainder of the week. It appears as if Greece will not have enough funds to make it through June without further bailout funds, suggesting the country is running on fumes (kind of like Eskom). On the event calendar we have; UK inflation, EU trade balance and inflation and SA unemployment rate to all be released this morning. Hold on, this could get bumpy!
Commentary by Justin Lodewyk
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Currencies Direct