Daily Reports 2024
Daily Market Trends
View the most up-to-date daily market trends below. Provided by ForexPeople.
FX DAILY REPORT
13 December 2024
The Rand opened weaker against the USD & EUR, and opened stronger against the GBP this morning.
US PPI (MoM) results came out higher than expected at 0.4% compared to the expected 0.2%. PPI is seen as a future indicator of CPI…
FX DAILY REPORT
12 December 2024
The Rand opened stronger against all the majors this morning.
Yesterday, both South African and US inflation figures were released. While US inflation aligned with market expectations, South African inflation came in lower than anticipated, at…
FX DAILY REPORT
11 December 2024
The Rand opened weaker against all the majors this morning.
The USD strengthened slightly yesterday as investors shifted their attention to the US CPI inflation data, scheduled for release today at 15:30. This report is one of the final major…
FX DAILY REPORT
10 December 2024
The Rand opened significantly stronger against all the majors this morning.
The ZAR strengthened yesterday following news that China’s central bank had resumed gold purchases after a six-month pause. The resulting increase in gold prices, one of South…
FX DAILY REPORT
09 December 2024
The Rand opened stronger against all the majors this morning.
The U.S. Non-Farm Payrolls report released on Friday exceeded expectations, showing an increase of 227K jobs compared to the forecasted 202K. Although the labour results…
FX DAILY REPORT
06 December 2024
The Rand opened stronger against the USD & GBP, and weaker against the EUR this morning.
The USD weakened yesterday following the release of the Initial Jobless Claims data, which came in higher than anticipated at 224K versus the expected 215K. While the difference is not…
FX DAILY REPORT
05 December 2024
The Rand opened weaker against all the majors this morning.
Geo-political unrest in South Korea has driven investors toward the safe-haven USD, leading to a weakening of the ZAR. Yesterday, at around 3:30 PM South African time, President Yoon…
FX DAILY REPORT
04 December 2024
The Rand opened stronger against the USD and weaker against the GBP & EUR.
The US JOLTS Job Openings report released yesterday showed a strong figure of 7.744 million, well above the expected 7.510 million. A high number of job openings is typically…
FX DAILY REPORT
03 December 2024
The Rand opened weaker against the USD and stronger against the GBP & EUR.
The USD strengthened yesterday resulting from the higher-than-expected ISM Manufacturing PMI results, coming in at 48.4 compared to the expected 47.7….
FX DAILY REPORT
02 December 2024
The Rand opened weaker against the GBP & EUR and slightly stronger against the USD.
The EUR regained some ground on Friday after ECB member Isabel Schnabel signalled a more hawkish approach to future rate cuts. She urged her colleagues to adopt a gradual path…
FX DAILY REPORT
29 November 2024
The Rand opened stronger against all the majors this morning.
We can contribute the ZARs strength to yesterdays local events, with the PPI results coming in lower than expected and the SARB November Financial Stability Review reflecting…
FX DAILY REPORT
28 November 2024
The Rand opened weaker against all the majors this morning, except for the USD which opened at the same levels as yesterday.
The US experienced several noteworthy economic events yesterday, most of which aligned with expectations. However, Durable…
FX DAILY REPORT
27 November 2024
The Rand opened weaker against all the majors this morning.
The US FOMC meeting minutes released yesterday evening, revealed mixed views, with some members suggesting a pause in the rate-cutting cycle to maintain restrictive levels…
FX DAILY REPORT
26 November 2024
The Rand opened slightly stronger against the USD & GBP this morning, and weaker against the EUR.
Trump announces plans to impose a 25% tariff on all imported goods from Canada and Mexico, and an additional 10% on goods from China…
FX DAILY REPORT
25 November 2024
The Rand opened stronger against all the majors this morning.
Last week’s relatively hawkish comments from the South African Reserve Bank (SARB) contributed to a stronger ZAR. SARB officials dismissed the possibility of aggressive rate…
FX DAILY REPORT
22 November 2024
The Rand opened stronger against all the majors this morning, however only marginally stronger than the USD.
The South African Reserve Bank cut interest rates by 25 basis points to 7.75%, as expected. Governor Lesetja Kganyago stated that a…
FX DAILY REPORT
21 November 2024
The Rand opened weaker against the USD & GBP and marginally stronger against the EUR this morning.
South Africa’s CPI inflation dropped significantly to 2.8%, well below the previous month’s figure. Notably, this falls outside the…
FX DAILY REPORT
20 November 2024
The Rand opened weaker against all the majors this morning.
Ukraine’s recent attack on Russia with ATACMS missiles has rapidly increased geo-political tensions as Russia warns this attack has has marked a “new phase of the Western war”…
FX DAILY REPORT
19 November 2024
The Rand opened stronger against all the majors this morning.
The S&P Global revised South Africa’s outlook from stable to positive last Friday. This has been driving the ZAR’s strength. The stability of the GNU has played a key role in improving the…
FX DAILY REPORT
18 November 2024
The Rand opened stronger against all the majors this morning, recovering some much-needed ground after last week’s losses.
The USD still remains the top performing major with the main drivers being positive investor sentiment towards Trumps new policies and…
FX DAILY REPORT
15 November 2024
The Rand opened weaker against the USD & GBP and slightly stronger against the EUR, however all price levels remain very similar to yesterday’s opening levels.
Fed Chairman Jerome Powell stated in his speech last night that the strong US economy…
FX DAILY REPORT
14 November 2024
The Rand opened weaker against all the Majors this morning.
Gold prices have continued to fall, driven by renewed confidence in both the USD and former President Trump, with the price of gold now at $2,560.00. Given that gold is one of…
FX DAILY REPORT
13 November 2024
The Rand opened weaker against all the Majors this morning.
The GBP weakened compared to the other majors on poor unemployment rate results yesterday. Unemployment rose to 4.3% from expected 4.1% and previous 4.0%…
FX DAILY REPORT
12 November 2024
The Rand opened significantly weaker against all the Majors this morning.
The ZAR weakness can be attributed to a few factors. One being the current low gold prices, as one of South Africa’s main exports, lower gold prices will cause the ZAR to weaken…
FX DAILY REPORT
11 November 2024
The Rand opened significantly weaker against all the Majors this morning.
Gold prices have dropped to around $2,670.00, driven by renewed confidence in the USD as a safe-haven asset following Trump’s victory in the U.S. elections. The renewed confidence…
FX DAILY REPORT
08 November 2024
The Rand opened significantly stronger against all the Majors this morning.
There are several factors contributing to the strength of the ZAR. First, the US Feds and the UK BoEs recently cut interest rates by 25 basis points. Although these cuts were anticipated…
FX DAILY REPORT
07 November 2024
The Rand opened weaker against all the Majors this morning.
The USD strengthened significantly yesterday following Trump’s victory in the U.S. Presidential Election. Investors believe Trump’s proposed policies and initiatives will benefit the U.S…
FX DAILY REPORT
06 November 2024
The Rand opened stronger against all major currencies as today’s session opened. However, since opening, the Rand has weakened significantly against all the majors.
As the US election results pour in, a Trump win looks highly likely and this has been the…
FX DAILY REPORT
05 November 2024
The Rand opened stronger against all major currencies this morning, with the EUR holding its strength and only slightly weakening by 0.03% against the ZAR.
Today, Americans head to the voting stations to choose their next president…
FX DAILY REPORT
04 November 2024
The Rand opened stronger against the USD & EUR and weaker against the GBP this morning.
We have a massive week ahead of us with The US Presidential election on Tuesday, and 2 interest rate decisions on Thursday from the Feds (US) and the BoE (UK). The big mover…
FX DAILY REPORT
01 November 2024
The Rand opened stronger against all the majors this morning.
The EUR maintains its strength on top of strong economic data releases yesterday, with German Retail Sales coming out much higher than expected and the Eurozone CPI inflation…
FX DAILY REPORT
31 October 2024
The Rand opened weaker against the EUR & USD and stronger against the GBP.
The EUR strengthened as a result of better-than-expected Eurozone GDP Growth. Following the GDP data release, the probability of a 50-basis point rate cut by the ECB eased…
FX DAILY REPORT
30 October 2024
The Rand opened stronger against the EUR & USD and weaker against the GBP.
US JOLTS Job Openings and CB Consumer Confidence came out better than expected yesterday, however failed to spark any significant market reaction…
FX DAILY REPORT
29 October 2024
The Rand opened weaker against all the majors this morning, particularly against the EUR, weakening by over 1.00%
Views among ECB members on future monetary policy remain divided: some suggest a more cautious approach to rate cuts, while…
FX DAILY REPORT
28 October 2024
The Rand opened stronger against the GBP & EUR and insignificantly weaker against the USD this morning.
The USD remains supported by investors’ risk-averse sentiment as the conflict in the Middle East continues, with several Israeli airstrikes…
FX DAILY REPORT
25 October 2024
The Rand opened stronger against all the major currencies this morning.
The ZAR recovered some of yesterday’s losses over concerns about supply sanctions on the top palladium producer in Russia. South Africa is currently the largest producer of palladium…
FX DAILY REPORT
24 October 2024
The Rand opened significantly weaker against all the major currencies this morning.
South African CPI inflation decreased significantly to 3.8% growth (YoY) from previous months 4.4%. This is the lowest level we have seen in over three years. This has…
FX DAILY REPORT
23 October 2024
The Rand opened stronger against all the major currencies this morning.
The three-day BRICS Summit is currently underway, reigniting discussions about creating a new gold-backed currency to challenge the…
FX DAILY REPORT
22 October 2024
The Rand opened stronger against the EUR & GBP however slightly weaker against the USD.
The EUR continues to weaken following the latest CPI data release and dovish comments from ECB members. ECB Council Member…
FX DAILY REPORT
21 October 2024
The Rand opened stronger against all the majors this morning.
This week we can look forward to the South African CPI Inflation results being released on Wednesday morning at 10:00. SARB Governor…
FX DAILY REPORT
18 October 2024
The Rand opened weaker against all the majors this morning. The ECB decided to cut interest rates yesterday by 25 basis points. Although a rate cut would typically cause a currency to weaken, this rate cut had been fully priced…
FX DAILY REPORT
17 October 2024
The South African Rand weakened in early Thursday as Investors await U.S Retail Sales data, which could provide insight into the Federal reserves interest rate direction for the year. The Dollar surged to a two-month high as the former president Donald Trump….
FX DAILY REPORT
16 October 2024
The Rand opened weaker against all the majors this morning.
SARB Governor Lesetja noted that there were now “signs that the storm is clearing” yesterday evening at the SARB Monetary Policy Review. It was also mentioned that although the current…
FX DAILY REPORT
15 October 2024
The Rand opened weaker against all the majors this morning.
US Fed Member Kashkari revealed that he expects “further modest reductions in our policy rate.” Kashkari also noted that recent jobs data shows a strong labour market and…
FX DAILY REPORT
14 October 2024
The Rand opened stronger against all the majors this morning.
The EUR hit a new yearly low against the ZAR this morning at 18.9771. The weakness in the EUR can be attributed to the upcoming monetary policy decision on Thursday and the…
FX DAILY REPORT
11 October 2024
The Rand opened weaker against all the majors this morning.
The USD weakened yesterday following the release of CPI and Initial Jobless Claims. CPI (YoY) came in at 2.4%, slightly above the expected 2.3% but still lower than last months…
FX DAILY REPORT
10 October 2024
The Rand opened weaker against all the majors this morning.
The USD strengthened following the release of the FOMC Meeting Minutes yesterday. The minutes revealed that Fed members agreed to not lock themselves into an aggressive easing…
FX DAILY REPORT
09 October 2024
The Rand opened significantly weaker against all the majors this morning.
Rising geopolitical tensions in the Middle East are adding pressure to the ZAR, as investors grow increasingly risk-averse due to the ongoing conflict in the region. With no…
FX DAILY REPORT
08 October 2024
The Rand opened stronger against all the majors this morning.
The Middle East conflict continues to heat up as Israel returns fire on Northern Gaza and is expected to retaliate against Iran for last…
FX DAILY REPORT
07 October 2024
The Rand opened stronger against all the majors this morning.
US labour market data released on Friday reaffirms the recovering labour market with all positive results…
FX DAILY REPORT
04 October 2024
the Rand opened this morning stronger against the Pound but weaker against the Dollar and Euro.
The Rand has pulled back from its recent highs due to global uncertainty following the conflict in the Middle East, combined with the Dollar…
FX DAILY REPORT
03 October 2024
The Rand opened stronger against all the majors this morning.
ADP Nonfarm employment change came in higher than expected at 143k compared to expected 124k. The recent positive US labour market results have been providing support…
FX DAILY REPORT
02 October 2024
The Rand opened weaker against all the majors this morning.
The USD continues to strengthen against the ZAR as bets of a 50-basis point cut continue to decrease after Fed Chairman Jerome Powell’s hawkish comments on Monday. PMI and JOLTs…
FX DAILY REPORT
01 October 2024
The Rand opened weaker against all the majors this morning.
The reason for the ZARs weakening may be linked to the strengthening of the USD. Fed Chairman, Jerome Powell disregarded a possible 50 basis point rate cut…
FX DAILY REPORT
30 September 2024
The Rand opened stronger against all the majors this morning.
The USD weakened further on Friday after softer-than-expected PCE inflation data. Despite the decline, the results reaffirm that inflation is on track and steadily moving…
FX DAILY REPORT
27 September 2024
The Rand opened weaker against the GBP and stronger against the USD & EUR this morning.
Positive Economic results released yesterday for the US has caused investors to drop bets of a higher 50 basis point rate cut, with bets now standing at 48.7% for a 50 basis point cut…
FX DAILY REPORT
26 September 2024
The Rand opened stronger against all the majors this morning.
A few analysts have attributed the ZARs current strength to the interest rate cuts made by the SARB and the US Federal Reserve. The weakening USD is playing a role in supporting…
FX DAILY REPORT
25 September 2024
The Rand opened stronger against the USD, and opened with little to no change against the GBP and EUR.
Gold continues its bullish trend and has reached a new all time high of $2,670.00. This is a result of the current risk averse…
FX DAILY REPORT
23 September 2024
The Rand opened slightly weaker against the GBP, while strengthening against the USD and EUR this morning.
Gold reached a new all-time high of $2,630.00, as it continues to be the preferred safe-haven asset. The 50-basis point interest rate…
FX DAILY REPORT
20 September 2024
The Rand opened stronger against the USD and weaker against the EUR & GBP this morning.
The USD continues to weaken as a result of the 50-basis point cut and the slight concerns of a potential recession. Investors continue to flock from USD to alternative safe-haven…
FX DAILY REPORT
19 September 2024
The Rand opened stronger against all the majors this morning.
The US Feds decided to cut interest rates by 50 basis points last night from 5.50% to 5.00%. This steep rate cut caused the USD to weaken significantly following the…