Prinesha Naidoo 2.2 1 idea

Chief Africa Correspondent, Bloomberg
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1 winning  /  0 losing  ·  1 positions (30d)
Net: +8.3%
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ETF
1 ideas +8.3%
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EZA 1 ideas
100% W +8.3%
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South Africa is a net importer of crude oil. Treasury officials admit it would take a "significant shock" to derail fiscal plans, but rising oil prices are now threatening that stability. Emerging Markets with high energy import needs suffer a "double whammy" in this environment: currency depreciation (inflation) and fiscal deterioration (current account deficit). The "turnaround" narrative for South Africa is negated by $80+ oil. Short/Avoid South Africa ETF (EZA). Gold prices (a major SA export) rising fast enough to offset the oil import bill.
EZA Bloomberg Markets Mar 04, 07:51
Chief Africa...
Prinesha Naidoo (Chief Africa Correspondent, Bloomberg) | 1 trade ideas tracked | EZA | YouTube | Buzzberg