Trump’s de­ci­sion likely to af­fect lo­cal mar­kets

Sowetan - - Job Market - By An­dries Mahlangu Busi­nessLIVE

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. –

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