With limited economic data on the calendar this week, US tariff negotiations have taken centre stage. The threat of an additional 10% tariff on BRICS-aligned countries has contributed to ZAR weakness, with the currency retreating to R17.78. Meanwhile, increased production from OPEC has weighed on Brent crude prices, pushing them lower.
Although the official calendar remains light this week, market focus is gradually turning to key upcoming events at the end of the month, most notably the FOMC and SARB MPC meetings, which are expected to shape the next phase of interest rate expectations.
