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MARKET WRAP: Rand breaks two-day winning streak on strong US jobs report

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JSE ends the week firmer amid mixed international peers

The rand broke a two-day winning streak on Friday, after the US July jobs report came in strongerthanexpected, showing a strong labour market that will likely lead to more interest rate hikes from the Federal Reserve.

The US labour market added 528,000 jobs in July, beating a market estimate for a 258,000 increase. Job growth was expected to slow as the Fed continues to hike interest rates to tame surging inflation, but this report shows a labour market still running hot. ..

 

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