FX DAILY REPORT – 18 March 2025
- The Rand opened stronger against all the majors this morning.
- The USD continues to weaken following disappointing retail sales data released yesterday, adding to concerns about a decline in consumer spending. This data release, in addition to other recent poor economic data has raised concerns of a potential recession for the US.
- Tomorrow, the US Federal Reserve will announce its interest rate decision, unveil updated dot plot projections, and hold the FOMC press conference. While the interest rate is widely expected to stay at 4.50%, investors will be closely watching for clues on future policy direction and the broader economic outlook.
Todays Events:
- US Preliminary Building Permits at 14:30 – Expected to be 1.450M compared to previous 1.473M. A higher-than-expected result can be seen as positive for the USD.
- US Industrial Production Growth (MoM) at 15:15 – Expected to be 0.2% compared to previous 0.5%. A higher-than-expected result can be seen as positive for the USD.