EUR / ZAR

Even though the EUR/ZAR currency pair is not a major one, it has a sizable global following. The correlation of two major global economies, the Eurozone and South Africa, has a big impact on the pair's relationship. Because the financial statuses of the two economies are influenced by many different factors, the pair's behavior is frequently erratic. Despite its volatility and difficulty in forecasting, EUR/ZAR could be a very useful tool in the portfolio of a seasoned trader. South Africa is Africa's most developed country. The country has a distinct local flavor due to its unique culture based on Zulu, Dutch, and English traditions. The country's wealth of coal, ore, gold, diamonds and other valuable resources generates substantial revenues, making the rand rate highly reliant on global gold and raw material prices, which must be considered when constructing a chart analysis.