The JSE had its best day in a month, tracking markets around the world which firmed after the European Central Bank raised interest rates by 75 basis points.
The move by the ECB on Thursday saw the rampaging dollar weaken slightly, with stocks the main beneficiaries on Friday...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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Business Maverick: ECB Goes Big With Jumbo Hike as Lagarde Hints More to ComeThe European Central Bank hiked interest rates by a historic amount and President Christine Lagarde hinted it could do the same again as part of “several” future moves to escalate officials’ attack against rampant inflation. Inflation is a whimsical mechanism that permits the unilateral increase in prices of basic goods because of sentiment. Mainly, it’s investors on the stock exchange who fear losses, get jittery & rally privately for price increases to cover their fear. No science or math here.
Source: dailymaverick - 🏆 3. / 84 Read more »
MARKET WRAP: JSE holds up even as rand plumbs two-year depthsCurrency takes a further beating after Fed chair Jerome Powell reaffirms the central bank’s commitment to taming inflation and the ECB raises its rate the most since 1999
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Dollar resumes climb in Asia as Powell speech, ECB loom - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The dollar resumed its rise in Asia on Thursday after falling back from a two-decade high overnight, as investors pondered the path of global monetary policy ahead of a European Central Bank rate decision and comments from Federal Reserve Chair Jerome Powell later in the day. wait until Russia cuts their oil supplies too😂😂 I’m gradually making more earnings now in my trades but with the aid of a trader that was recommended and now I'm recommending her to y'all EliDonovan01
Source: SABCNews - 🏆 37. / 51 Read more »
Dollar relaxes after steep climb, euro gains on ECB hike - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The dollar took a breather from its surging rally on Friday as markets digested yet more hawkish Fed speak, while the euro hung on to parity, helped by an outsized rate hike from the European Central Bank.
Source: SABCNews - 🏆 37. / 51 Read more »