Global stocks dropped on Monday while the US dollar rallied as investors weighed up concerns that the US Federal Reserve will continue to ramp up interest rate hikes to combat growing inflation. During morning trade the rand weakened to R17.09/$ – its weakest level in a month – before clawing back to R17.02/$ by midday …
As central banks battle to rein in soaring inflation, stock markets across the globe mainly traded down on Friday with investors focused on further aggressive interest rate hikes from central banks. AFP reports that unease on the trading floors has come from several issues, including China-US tensions, the Ukraine war, supply chain snarls and extreme …
The US dollar has been on the front foot today and climbed to a three-week high against the rand as traders digested the latest US Federal Reserve minutes, which indicated the central bank will keep interest rates higher for the foreseeable future to bring down inflation. The local unit is currently trading at R16.79 to …
The JSE opened to positive Asian markets this morning but drifted into the red during trade on Wednesday with investors eyeing the US Federal Reserve minutes out later this evening. Investors will closely scrutinise the minutes as they gauge where the Fed will go next for interest rates in the world’s largest economy. Recent economic …
The JSE climbed higher on Tuesday while European stocks joined the local bourse in creeping up. Investors have sought safety in defensive names while risk aversion has lifted the US dollar after weaker Chinese and US economic data led to global recession speculation. The local bourse traded 1.08% higher with the All Share Index at …
Global shares were mixed on Monday following a surprise interest rate cut from China. The Chinese central bank cut key lending rates to revive demand as the economy unexpectedly slowed down in July with the factory and retail activity affected by the government’s zero-covid policies and the continuing property crisis. Following the news oil prices …
The JSE slipped on Friday as investors once again turn their attention to the Federal Reserve and what the US central bank’s next steps will be in order to tame inflation. There was a boost this week after the US inflation numbers came in at 8.5% for July, down from 9.1% in June, which has …
The rand was trading at its best level against the US dollar in six weeks by lunchtime on Thursday but the local unit has since given back some of those gains and is currently trading at R16.25 to the dollar. The local unit was trading as low as R16.17/$ at midday – its best level …
The JSE dropped significantly during morning trade on Wednesday while global peers were also down as markets awaited the US consumer price index (CPI) data but the local bourse began to tick up during the afternoon session along with its global peers. US inflation slowed to 8.5% for the year through July, not a conclusive …
The JSE traded 1.07% higher while European peers also rose on Monday as stock markets recovered following the strong jobs report coming out of the US on Friday that stoked fears the Federal Reserve will gear up for another sharp interest rate hike. After being spooked on Friday by the stronger-than-expected jobs numbers, investor focus …
Market Wrap: JSE trades 1% higher while rand gets on the front foot Read More »
