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EU stimulus close to an end?

14 March 2017 (article from Currencies Direct)

Commentary by Justin Lodewyk

In his press conference yesterday, Mario Draghi refused to acknowledge Friday’s rumour of the ECB discussing a hike at its last meeting. Draghi had previously mentioned that EU inflation is starting to accelerate and this could lead to the end of the current stimulus package. Elsewhere, strong Chinese production figures released this morning should bode well for global growth. The positive data should also see a recovery of commodity prices which could provide some relief to commodity based currencies. On the calendar today; SA mining and manufacturing figures and the German ZEW economic sentiment out later this afternoon.



USD / ZAR 13.1575
GBP / ZAR 15.9675
EUR / ZAR 13.9992
ZAR / JPY 8.7399
CNY / ZAR 1.9032
AUD / ZAR 9.9394
CHF / ZAR 13.0523
AED / ZAR 3.5853
SGD / ZAR 9.3086
NOK / ZAR 1.5349
EUR / USD 1.0639
GBP / USD 1.2140
GBP / EUR 1.1409

All rates quoted are the interbank rates at time of publishing and shown for indicative purposes only. It is important to note that foreign exchange rates fluctuate and that the rates will vary depending on the amount and product purchased and sold






The contents of this report are for information purposes only. It is not intended as a recommendation to trade or a solicitation for funds. Currencies Direct cannot be held responsible for any loss or damages arising from any action taken following consideration of this information.


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