Inflation coming in Hot
Published Date: 2021-10-14 | Source: INCE|Community | Author: Roxanne Segers
Market Summary: Dollar edged down ahead of CPI data release
The JSE Top 40 index was trading over 0.5% lower at the 59,182 level on Wednesday; Mining and Financial counters were the big losers amid ongoing concerns over inflation, slowing growth, and weaker commodity prices, as well as fears about the potential debt crisis at developer China Evergrande Group spreading.
On the local front, NUMSA strike is continuing following a deadlock in wage negotiations, with businesses across the country reporting huge losses in revenue.
SA Retail sales came in at -1.3% versus a forecast of 2.6% rise.
The ZAR was trading slightly firmer at 14.86 against the US Dollar, despite fears of a slowdown in global growth and the US Fed announcing a tapering of stimulus next month.
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DISCLAIMER: The rates quoted are shown for indicative purposes only.