In this week’s market review, ETM Analytics and TreasuryONE dive into the latest global headlines, including Donald Trump’s threat to impose 100% tariffs on BRICS nations if they pursue an alternative reserve currency. While this bold statement grabs attention, our analysts explain why replacing the U.S. dollar as the dominant reserve currency is a long-term challenge, not a short-term reality.
We also shift focus to the Eurozone, where structural and geopolitical challenges—such as the Russia-Ukraine conflict, an aging population, and economic pressures on industries like automotive manufacturing—continue to weigh heavily on the euro.
On the U.S. front, upcoming labour data is under the spotlight as it could shape the Federal Reserve’s rate cut trajectory in 2025. The erratic job creation figures from recent months raise questions about the economic outlook heading into the new year.
Finally, we take a closer look at the South African Rand, which remains stable within the R17.30–R18.30 band as 2024 winds down. With uncertainties surrounding global geopolitics and economic policies, staying prepared for a potentially tumultuous 2025 is essential.
Catch the full analysis for valuable insights into global markets and the impact on South Africa’s economy.