Trump’s decision likely to affect local markets
The JSE struggled to find a clear path on Monday‚ in line with its European and Asian counterparts‚ which were stuck in relatively narrow ranges.
Traders appeared to sit on the sidelines ahead of a busy week‚ packed with a slew of global economic data releases‚ including the US nonfarm payrolls report on Friday.
US President Donald Trump is also expected this week to announce Janet Yellen’s successor at the Federal Reserve when her term expires in February.
“It’s been a relatively calm start to trading on Monday, but that isn’t likely to last long with the rest of the week full of major economic and political events that should ensure markets remain quite volatile‚” Oanda senior market analyst Craig Erlam said.
The JSE all share was flat at 58 720.90 points by midday‚ with the recovery in the rand holding back some of the big‚ dual-listed shares.
The rand was trading at about R14.09 to the dollar‚ compared to last week’s lows of R14.33 following the Minister Malusi Gigaba’s medium-term budget policy statement. –