FX DAILY REPORT – 25 February 2025
- The Rand opened stronger against all the majors this morning.
- Relations between the U.S. and Europe strained further after the UN General Assembly meeting, with the U.S. taking a softer approach while Europe pushed for a tougher stance against Russia. However, as the Russia-Ukraine war continues, there is hope for peace as talks move forward.
- Yesterday, President Trump reiterated his threat of high trade tariffs on Canada and Mexico, stating they are still set to take effect next month. The impact of these tariffs remains uncertain, and investors are staying cautious as the situation unfolds.
Todays Events:
- German GDP growth (QoQ) at 9:00 – Expected to be -0.2% compared to previous 0.1%. A higher-than-expected result can be seen as positive for the EUR.
- US CB Consumer Confidence at 17:00 – Expected to be 103.3 compared to previous 104.1. A higher-than-expected result can be seen as positive for the USD.