FX DAILY REPORT – 26 February 2025
- The Rand opened weaker against all the majors this morning.
- The EUR strengthened yesterday as investor sentiment improved on expectations of increased government spending in Germany, following reports that the nation is considering a €200 billion emergency defence fund.
- South Africa’s CPI inflation data will be released at 10:00 AM today, a key event amid ongoing GNU debates over tax hikes that delayed the Budget Speech. Recent reports suggest the government may be considering a wealth tax on high-net-worth individuals.
Todays Events:
- South African CPI (YoY) at 10:00 – Previous result was 3.0%. A higher-than-previous result can be seen as positive for the ZAR.
- US New Home Sales at 17:00 – Expected to be 677K compared to previous 698K. A higher-than-expected result can be seen as positive for the USD.