JSE faces mixed Asian markets on Friday
Focus is on US jobs data later, while US-China trade tensions remain threats to sentiment
The JSE must contend with mixed Asian markets on Friday morning, with all eyes on US jobs data later.
US initial jobless claims disappointed overnight, printing at 2.126-million Americans joining the unemployment queues versus an expected 1.8-million, said Oanda senior market analyst Jeffrey Halley. US nonfarms data is therefore also likely to be disappointing, he said.
Global markets have registered strong gains for much of the week, boosted by optimism of an economic recovery as countries move to ease lockdown restrictions.
In morning trade on Friday the Shanghai Composite was down 0.26% while Japan’s Nikkei had gained 0.46%.
Tencent, which influences the JSE via Naspers, had fallen 1.5%.
Gold was down 0.21% to $1,709.41/oz while platinum was flat at $837.42. Brent crude was 0.7% higher at $40.17 a barrel.
The rand was flat at R16.84/$.
There is little on the local calendar on Friday, with global focus on US economic data and signs of any escalation in the US-China trade war.