MARKET WRAP: JSE, rand rally on soft US jobs data
The US jobs data fuelled investor optimism that the Federal Reserve could be close to wrapping up interest rates hikes
03 November 2023 - 18:22
The JSE rallied on Friday while the rand held firm at its strongest levels in three months after US jobs data fuelled investor optimism that the Federal Reserve could be close to wrapping up interest rate hikes.
The non-farm payroll (NFP) report showed the US economy added 150,000 jobs in October, below the market estimate of a 170,000 increase, and lower than September’s 297,000 jobs. However, the unemployment rate rose to 3.9%, compared with expectations that it would hold steady at 3.8%...
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