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FX DAILY REPORT – 28 March 2025

  • The Rand opened stronger against the USD and weaker against the GBP & EUR this morning.
  • Gold is currently trading at a new all-time high of $3,080.00 as investors flock to safe haven assets before Trumps reciprocal tariff announcement on the 2nd of April. Additionally, Trump has already announced that a 25% tariff on all vehicle and vehicle parts imports will take effect on the 3rd of April.
  • Investors will turn their attention to today’s US Core PCE Price Index at 14:30, as it serves as a key inflation measure for the Feds. A higher-than-expected reading could reinforce concerns about increasing inflation, which could lead to more rate cuts for this year.

Todays Events:

 

  • UK GDP Growth (YoY) at 9:00 – Expected to remain the same at 1.4%. A higher-than-expected result can be seen as positive for the GBP.
  • UK Retail Sales Growth (YoY) at 9:00 – Expected to be 0.5% compared to previous 1.0%. A higher-than-expected result can be seen as positive for the GBP.
  • US Core PCE Price Index (YoY) at 14:30 – Expected to be 2.7% compared to previous 2.6%. A higher-than-expected result can be seen as positive for the USD.