Market Summary: Where are we going?

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Market Summary: Where are we going?

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Published Date: 2021-10-07 | Source: INCE|Community | Author: Currency Assist

Market Summary: Where are we going?

South Africa

The JSE Top 40 index traded in the red at 57,381 level down 1.23% on Wednesday, along with its global peers, as rising energy prices fuel concerns that inflation will accelerate and the spike in US treasury yields will hamper economic recovery.

Meanwhile, strike action is intensifying in South Africa as trade union federation Cosatu has called on millions of workers in the country to join in a strike by staying away from work on Thursday in protest against the freezing of wages in the government and private sector. The ZAR was trading around 15.10 against the US dollar amid general dollar strength due to persistent fears of a slowdown in global growth.

The SARB also highlighted inflation risks in a biannual review of its monetary policy stance last night.

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15H00 SAST 06.10.2021

BUYSELL
USD/ZAR15.0477 15.1627
EUR/ZAR17.3888
17.4906
ZAR/JPY7.3417
7.4021
GBP/ZAR20.4657
20.5721
AUD/ZAR10.9209
11.0148
ZAR/CAD11.9048
12.0401
ZAR/CHF16.1476
16.3882
NZD/ZAR10.3970
10.4935



DISCLAIMER: The rates quoted are shown for indicative purposes only.



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