MARKET WRAP: JSE closes lower as focus shifts to US Fed interest-rate decision
SA recorded a trade surplus of R4.42bn in June, compared to a downward revision of R1.7bn in May, slightly above analyst expectations
The JSE closed lower on Wednesday as investors await the US Federal Reserve’s interest-rate decision, with the expectation that the central bank will ease monetary policy amid concern over a slowdown in global economic growth.
The markets appear to have priced in the likelihood of a rate cut ahead of the Fed’s meeting on Wednesday. The probability of a 25-basis-point cut was at 79.1% according to the CME Group FedWatch tool on Wednesday evening. Investors are awaiting more direction from the Fed regarding the trajectory of US monetary policy in the coming months amid speculation that the Fed will cut rates further...
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