FX DAILY REPORT – 31 March 2025
- The Rand opened weaker against all the majors this morning.
- The ZAR weakened significantly on Friday afternoon after the ANC rejected the DA’s economic policy proposal, sparking concerns over a potential collapse of the GNU and decreasing investor confidence.
- However, the currency could see a slight recovery as new reports suggest the ANC and DA are now close to an agreement to preserve the GNU. Despite this potential rebound, the main market focus this week remains on Trump’s reciprocal tariff announcement on Wednesday, which is expected to bring volatility across all currencies.
Todays Events:
- German CPI Inflation (MoM) Prel. at 14:00 – Expected to be 0.3% compared to previous 0.4%. A higher-than-expected result can be seen as positive for the EUR.
- US Chicago PMI at 15:45 – Expected to remain the same at 45.5. A higher-than-expected result can be seen as positive for the USD.