Eurozone Producer Price Index (MoM) came in at 0.6%, above forecasts (0.4%) in April

Societe Generale notes the USD/ZAR downtrend has paused after an interim low near 15.63 in January, with the pair struggling to reclaim its 200-day moving average. A recent pivot high around 16.80–16.92 forms key resistance, whose break would confirm a larger bounce.