Similar to last week, market activity has remained subdued in terms of economic data releases. The key focus this week will be on the Eurozone, where Core CPI (YoY) is due for release on Wednesday. The market is expecting no change in inflation, with CPI holding steady at 2.3%. Elsewhere, gold has reached a record high of 3,814.64, with silver, platinum, and other commodities also gaining, lending further support to the rand, which has strengthened to 17.28 against the dollar.
In the US, top congressional leaders are set to meet with President Trump to avoid a government shutdown by passing a short-term spending bill before the 1 October deadline. Failure to do so would result in federal worker furloughs, delays in key economic data releases, and downward pressure on the dollar. Despite this, markets continue to price in just over one and a half rate cuts in the US by year-end.
