In spite of Senegal's increasing mineral production, the country's chronic trade deficit has not been reversed. In addition to oil and phosphate, Senegal exports gold and seafood. While importing fuel, food, and capital equipment, the country is reliant on exports for the majority of its needs. France, the United States, and Côte d'Ivoire are among Senegal's major trading partners.
A higher than expected figure should be seen as positive (bullish) for the XOF while a lower than expected figure should be seen as negative (bearish) for the XOF.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.