MARKET WRAP: JSE and rand surge as US inflation surprises

The JSE staged a sharp rebound in the afternoon session on Thursday while the rand powered ahead after the US reported better-than-expected inflation data, raising hopes that price increases in the world’s biggest economy may have peaked and prompt the Fed to ease up on its aggressive rate hikes.

US consumer prices rose 7.7% year on year in October, well below market expectations of 7.9% and the slowest pace in nine months. Core CPI, which excludes volatile food and energy costs, rose by 0.3% in the month and by 6.3% on an annual basis, also 20 basis points below the consensus figure. ..

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: JSE weaker with focus on US midterms and inflationMurray & Roberts bucks the trend, soaring more than 17% after announcing the sale of its Australian subsidiary
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE firmer as investors await the US midterm elections outcomeLocal bourse stages a rebound from the previous session’s losses as traders focus on US midterm election results
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE firmer as investors await the US midterm elections outcomeLocal bourse stages a rebound from the previous session’s losses as traders focus on US midterm election results
Source: BDliveSA - 🏆 12. / 63 Read more »

JSE to consider lifting Trustco suspension once it restates financials | Fin24The Johannesburg Stock Exchange has said it would consider lifting the suspension of Namibian company Trustco as soon as it restates its financials. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Rand rallies on lower-than-expected US inflationSouth Africa's rand rallied on Thursday afternoon, as the dollar dropped sharply on lower-than-expected US inflation data that could allow the Federal Reserve to dial back its hefty interest rate hikes. USinflation Rand InterestRates
Source: Moneyweb - 🏆 5. / 77 Read more »

Gold shares shine[LISTEN] davidshapiro61 on market movements, with the JSE ending almost 1% up, gold shares dominating, investors reacting to Gold Fields' failed Yamana deal & Northam Platinum still vying for RBPlats, on SAfm Market Update with Moneyweb. podcast
Source: Moneyweb - 🏆 5. / 77 Read more »