The JSE slipped during Monday’s trading session having touched record highs throughout last week. Its global peers are mixed as investors keep an eye on decisions by central banks this week, including the US Federal Reserve.
The local bourse gave up 0.58% to see the All-Share Index at 80,325 points.
In the US, investors will be eyeing more corporate earnings results from tech giants like Apple, Amazon, and Alphabet, and on Friday there will be the US payrolls and employment data release.
“Hopefully, this will shake the markets from their current lethargy, and we could see some fresh direction and movement,” comments forex trading house TreasuryONE.
The Fed is expected to cool its interest rate hiking cycle by delivering a 25-basis point hike when it concludes its federal open market committee meeting on Wednesday.
The European Central Bank and the Bank of England are also due to deliver interest rate decisions this week with both expected to hike by 50 basis points.
At 17:21, the Nasdaq was 1% lower while the broader S&P 500 was 0.46% down. London’s FTSE 100 was 0.19% higher, France’s CAC 40 climbed 0.026%, and Germany’s DAX added 0.07%.
In the currency markets, the rand started the new week unchanged at R17.20 against the dollar, in line with flat emerging market currencies. The local unit was trading 0.84% weaker at R17.35/$.
