Carnage on Wall Street yesterday as the market didn’t take kindly to the sitting US president declining to rule out an imminent recession as a result of his trade policies. That brings the S&P500’s losses to over $4 trillion since its recent peak on the 19th of February and yet somehow the Rand remains unscathed.

There are many tests that a friendship could endure and yesterday a Bloomberg TV news anchor questioned what the financial pain threshold could be, this as the leaders of America’s biggest companies who attended Donald Trump’s inauguration in late January have since lost a combined $208bn in personal net worth.

It’s Monday morning, never a great time of the week, but the good news is that we’ve made it to that part of the year where public holidays start coming thick and fast with this Friday kicking proceedings off!!!

“Transitory” is back!!! The last time the FED referred to inflation as transitory things didn’t go well with price increases in the US ending up at 9% which finally forced the embarrassed central bank into action. Now the feeling is that tariff related inflation will also be transitory, I suppose only time will tell if they’re right this time.

As financial markets brace for the next wave of tariff announcements suddenly the picture in the US isn’t as bad as everyone was predicting, and as a result the Dollar is showing signs of life. Unfortunately for the Rand that means pressure on our exchange rate.

Not wanting to waste a marketing opportunity Canadian beer maker, Moosehead Breweries, is selling a “Presidential Pack” which is 1 461 cans of bear weighing 862 kilograms, one for each day of Trump’s 4-year presidency. The strapline is catchy: “We can’t predict how the next four years will go, but considering how 2025 started, we have a feeling this many beers will come in handy.”

We finally had some movement in our exchange rate with the Rand breaking out of its well defined trading range last Friday afternoon. Unfortunately however the direction of this move was not what we were hoping for.

1 April 2025 is here, a day known for hijinks around the world, but today also marks the 10-year anniversary of my daily forex report!!! This milestone is a proud achievement.