MARKET WRAP: JSE and rand firm as US inflation measure matches estimates
Softer PCE index reading for January eases concerns about a renewed pickup in prices
29 February 2024 - 19:21
The JSE broke a three-day losing streak on Thursday, pushed higher mainly by mining companies, while the rand firmed after the latest reading of the Federal Reserve’s preferred measure of inflation was in line with market expectations.
Price increases as measured by the Personal Consumption Expenditures (PCE) Price Index, slowed to 2.4% year on year in January, down from 2.6% the previous month, the US Bureau of Economic Analysis (BEA) reported on Thursday. ..
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