Easing Inflation Boosts the JSE

Easing Inflation Boosts the JSE

Adriaan Pask  | Aug 22, 2019 03:56

South Africa
The JSE rose on Wednesday as local consumer inflation fell to a six-month low in July. Shortly after the closing bell, the All Share was up by 0.66%.

United States
Strong earnings from retailers lifted US markets on Wednesday as investors awaited new catalysts from the US Federal Reserve (Fed) meeting. The Dow was up by 1.05% just after the JSE closed.

European shares traded higher as hopes of additional monetary stimulus from key central banks countered fears of a global recession on Wednesday. At about 19h40, the FTSE 100 was up by 1.11%.

Hong Kong
Hong Kong stocks tracked a global rally on Wednesday and finished higher amid fresh hopes of monetary policy easing. The Hang Seng Index closed 0.17% in the green.

Japanese shares fell on Wednesday as political uncertainty and trade war fears persisted. The Nikkei Index closed 0.28% in the red.

The rand strengthened on Wednesday after local consumer inflation eased to 4% in July, boosting chances of an additional interest rate cut. Just after the JSE closed, the rand strengthened to R15.19/$.

Precious metals
Gold prices held steady on Wednesday as investors awaited new catalysts from the Fed meeting. At 20h15 an ounce of spot gold traded at $1 504.54.

Oil prices steadied on Wednesday following reports of a drawdown in domestic crude stocks. At 20h30 a barrel of Brent crude traded at $60.59.

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PSG Wealth Daily Investment Update, 22 August 2019

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Adriaan Pask

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