Futures follow firmer JSE, as US markets brush off early Powell comments
South African futures firmed on Tuesday, despite subdued global markets, after the JSE reacted positively to the latest Cabinet reshuffle.Gold miners were under pressure amid a softer metal price, and as markets waited for signals on the future monetary policy of major central banks.Globally, focus on Wednesday is expected to be on US inflation data, which will be released in the context of continued testimony by US Federal Reserve chairman Jerome Powell before Congress.Powell’s prepared remarks did not point to faster than expected interest-rate increases, but the issue could emerge during questioning by US lawmakers, reported Dow Jones Newswires.Wednesday is also quite busy in terms of local data: the producer price index (PPI)‚ private sector credit extension and the trade balance are all expected to be released.Economists forecast PPI to have moderated slightly from December’s year-on-year growth of 5.2%, partly due to a decrease in fuel costs.The all share closed 0.27% higher a...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.