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FX DAILY REPORT – 14 January 2025

  • The Rand opened stronger than all the majors this morning.
  • We can expect the USD to remain strong leading up to Donald Trumps inauguration and could strengthen further as Trump implements new policies to strengthen the US economy. The current outlook only shows 1 rate cut for this year, a much more hawkish outlook compared to December last year.
  • This week we have US and UK inflation data to look forward to, US inflation is expected to tick up slightly while UK inflation is expected to remain the same. If both inflation results come out higher than expected, we can expect to see the respective currencies strengthen against the ZAR.

Todays Events:

 

  • Eurozone’s ECB Lane Speech at 9:35
  • US PPI (MoM) at 15:30 – Expected to remain the same at 0.4%. A higher-than-expected result can be seen as positive for the USD.
  • US Fed Member Williams Speech at 22:05