Futures drop in line with the JSE, while the Dow opens firmer, but subdued
South African futures closed lower on Wednesday, tracking the softer local bourse, while global markets were mixed ahead of key global central bank decisions.The Dow opened at a record high but trading was relatively quiet as investors awaited a US Federal Reserve policy decision, reported Dow Jones Newswires.The Fed’s monetary policy statement is expected shortly after 9pm local time. The central bank is widely expected to raise interest rates by 25 basis points, with analysts saying that despite this having been priced in by the market there could be dollar volatility as investors gauge the prospect of future increases.Possible tax reforms in the US, low inflation, and weak consumer spending could lead the Fed to tread cautiously, said MD of FX Strategy for BK Asset Management Kathy Lien in a note.US President Donald Trump is expected to give a speech later on Wednesday regarding tax reforms, but this comes on the heels of an electoral setback for his administration. On Tuesday, a...
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