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Fundamental analysis of the Forex market in South Africa

Fundamental analysis is one of the most complicated and at the same time critical methods of the Forex analysis. A special emphasis in this method is put on reports made by key persons of global economic arena. One of such persons is Mario Drahgi – the European Central Bank President.

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Fundamental analysis of the Forex market in South Africa

Forex fundamental analysis is a complex and thorough method of predicting the situation on the international currency market. Unlike technical analysis, which takes into account only fluctuations in the exchange rate, fundamental analysis proceeds from the fact that many factors affect the value of a currency.

The results of the fundamental analysis of the Forex market in Africa and the conclusions of analysts will be useful for traders who trade currencies of African countries.

Complex of factors for fundamental analysis of the Forex market in Africa.

Fundamental analysis is carried out by leading analysts and experts of the Forex market in Africa. In order to make the most accurate and detailed forecast, they take into account a combination of factors. These factors can be divided into 4 groups:

Economic factors - the current economic situation, the forecast of growth or decline in GDP, trends in the main sectors of the economy in African countries;
Political factors - presidential and parliamentary elections, political scandals and confrontations, issues in international politics that may affect the countries of Africa;
Social factors – unemployment rate, public sentiment, population expectations;
Force majeure - natural disasters, wars, epidemics and other developments that can significantly affect the exchange rate of currencies of African countries.

After analyzing the whole range of factors, analysts make a forecast of the exchange rate of currencies of African countries. The accuracy of this forecast is very high for countries in which the political and economic situation is stable. Force majeure factors are the most difficult to predict in fundamental analysis. Natural disasters, social unrest, power grabs are hard to foresee. But these catastrophes greatly affect the exchange rates.

Benefits of Fundamental Analysis for Forex Traders.

Fundamental analysis of the Forex market in Africa will be useful for traders and investors. The conclusions and forecasts of experts will allow you to make the right decision to buy or sell a particular currency. After reviewing the results of the analysis, traders will be able to conclude profitable deals or get rid of the currency in time, the rate of which will soon begin to decline.

Also, forecasts and conclusions obtained by the method of fundamental analysis are necessary for investors. This forecast has the highest accuracy and reliability. It will be of interest to market participants earning on long-term investments at the currencies of the countries of Africa.

04 - 08 January	weekly forecast 04 - 08 January Bullish rally in the precious metals market
2021	EURUSD	GBPUSD	USDJPY
08 January	Low inflation in Europe EURUSD trading plan: Inflation in the 19 countries sharing the euro was unchanged at minus 0.3% in December, Eurostat data. The inflation reading could be the last negative figure in the current cycle as a temporary German value added tax cut expired at the end of 2020 and crude oil prices are up a More	Negative statistics from the Bank of England GBPUSD trading plan: Companies said the pandemic cut 16.1% on average from sales during the fourth quarter, the BoE said, more than the 15.3% hit penciled in from November's survey. They also saw a bigger hit to jobs. The worsening conditions came last month despite positive news on COVID-19 vaccin More	Positive macroeconomic statistics from the United States USDJPY trading plan: U.S. services industry activity accelerated in December. The Institute for Supply Management said its non-manufacturing activity index increased to a reading of 57.2 last month from 55.9 in November. As with the manufacturing data, the improvement in the services industry index More
07 January	Reduction of assets on the ECB's balance sheet	Weak macroeconomic statistics from the UK	The Open Market Desk surveys of dealers
06 January	Correlation between the euro and oil	Geopolitical tensions in the Middle East	Positive macroeconomic statistics from the United States
05 January	Correlation between the euro and gold	Positive macroeconomic statistics from the UK	Strong statistics from the United States
04 January	The neutral macroeconomic statistics	Covid-19 pandemic in the UK	The correlation between USDJPY and the stock markets

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Fundamental analysis of the Forex market in South Africa

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