JSE may benefit from higher Asian markets ahead of US inflation numbers

The JSE, which snapped a five-session losing streak on Tuesday, faces higher Asian markets on Wednesday morning, with all eyes on US consumer inflation numbers later.

Market focus on Wednesday is squarely on US consumer inflation data, due at 2.30pm SA time. Inflation is expected to have eased to 8.1% from 8.5% in the previous month, which was its highest in more than four decades. However, the US labour market would need to cool substantially too for the US Federal Reserve to dial back its view of 50 basis point hikes pencilled in for the next two meetings, while inflation is still extremely far from the Fed’s unofficial 2% target, she said.

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