The JSE slipped on Wednesday breaking its run in the green this week while global peers remained mixed as investors weighed up China’s easing Covid-29 restrictions against inflation pressures.
The local bourse lost 1.73% with the All Share Index at 70,849.38 points, meanwhile the top 40 lost 1.82% at 64,237.10 points.
The Rand started the day around the R15.70/$ level but with the US Dollar weakening, the Rand ran towards the R15.50/$ level.
“However, the momentum was arrested when the US market opened, and we have seen some US dollar strength. The Rand has lost some ground in the latter part of the afternoon session and is currently trading at R 15.58. The Rand seems happy in the R15.50 to R15.70 range as we await Friday’s US non-farm payroll number,” comments TreasuryONE.
A green day on the commodity markets with platinum leading the way and trading at $980 per ounce. Gold is currently trading at $1,841 and palladium at $2,000. We did see the brent crude price lose a bit of ground overnight; however, the price has rebounded today and is currently trading at $117 per barrel.
