FX DAILY REPORT – 24 February 2025
- The Rand opened weaker against all the majors this morning.
- This weekend, Eskom announced the return of loadshedding, peaking at stage 6 on Sunday before being reduced to stage 4 this morning. Combined with the internal conflicts within the GNU, this instability does little to reassure international investors, likely contributing to ZAR weakness.
- This week, investors will focus on CPI data releases while closely monitoring any further statements from President Trump regarding trade tariffs.
Todays Events:
- German Business Climate Index at 11:00 – Expected to be 85.9 compared to previous 85.1. A higher-than-expected result can be seen as positive for the EUR.
- Eurozone CPI (YoY) at 12:00 – Expected to remain the same at 2.5%. A higher-than-expected result can be seen as positive for the EUR.