JSE slips as markets assess less dovish US Fed
Investors feel deflated and frustrated, despite the US Fed delivering the 25 basis-point rate cut they demanded, one analyst says
The JSE was lower on Thursday morning after the US Federal Reserve dampened expectations that it may further cut its interest rate in 2019.
“There is clearly a wide range of views within the central bank — hence the three dissenters, one wanting more and two less — but one thing that did come across is that they are refusing to factor in a trade war into their forecasts in the same way that the market is,” Erlam said.Read more: Business Day
JSE lower as markets await the US Fed’s interest-rate decisionOil prices steadied on Wednesday after Saudi Arabia said it would take less than a month to restore oil production lost after drone attack
Gold hovers around $1,500 ahead of US Fed meetingOil prices ease after Saudi says it will be at full production soon, and gold is considered a hedge against oil-led inflation
US Fed cuts key interest rate a quarter point, citing ‘uncertainties’Powell and other Fed officials frequently have cited the uncertainty generated by President Donald Trump's trade war with China which is hanging over the economy.
Gold is steady ahead of US Fed meetingSilver edged 0.1% lower, platinum eased 0.1%, and palladium slipped 0.7%
Rand improves against dollar as US Fed cuts interest rateThe SA Reserve Bank is also set to announce its interest rate decision on Thursday
Fed cuts rates as voting shows division among policymakersDivisions highlighted in dissents on policy decision