Global markets were mixed on Wednesday following the release of more inflation data from Europe and traders digested yesterday’s shock inflation numbers from the United States as investors brace for more hefty interest rate hikes from the Federal Reserve.
Markets have fully priced in a 75 basis point hike at next week’s Fed monetary policy meeting while Tuesday’s inflation numbers have increased the chances of a full 100 bps hike.
The JSE lost a further 0.45% today with the All Share Index at 67,964 points while inflation came in at 9.9% in the UK as falling petrol prices helped inflation dip below 10%.
In the currency markets, the dollar is still on the front foot against the rand with the local unit currently trading at R17.46 versus the greenback.
