MARKET WRAP: JSE and commodity prices slip ahead of key US data
Having rallied more than 20% this year, the gold price fell 1% to $2,500/oz
28 August 2024 - 19:40
The JSE closed slightly weaker on Wednesday amid mixed global markets, as investors look ahead to the US Federal Reserve’s favoured inflation indicator — the personal consumption expenditures (PCE) price index.
The PCE, set to be released on Friday, will gauge how quickly inflation is slowing for common household goods and services in the US. This, along with Thursday’s second-quarter GDP and weekly jobless claims numbers, will provide insight into the size of an expected Fed rate cut in September. ..
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