JSE set for weak start on Monday as Asian stocks slide on US jobs data
Markets will closely monitor Federal Reserve chair Jerome Powell’s testimony to the Congress on Wednesday and Thursday amid renewed attacks on him
08 July 2019 - 07:12
The JSE could open lower on Monday, with Asian equities falling sharply in the wake of better-than-expected US jobs data, which has reduced the likelihood of sharp interest rate cuts from the Federal Reserve.
The US economy added 224,000 jobs in June, data released on Friday shows. That “does not justify a rate cut in normal circumstances” and is likely to make the Fed’s interest rate deliberations more difficult, analysts at OCBC Bank in Singapore said on Monday...
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