Comments on inflation from policymakers overnight are weighing on risk assets, with tightening of sanctions against Russia also in focus
The JSE looks set to join struggling Asian markets on Wednesday morning, with comments from two US Federal Reserve officials weighing on sentiment, while much attention is still on the war in Ukraine.
“What makes the comments overnight so significant is that Brainard is typically one of the most dovish of the Fed open market committee members,” said Oanda senior market Jeffrey Halley in a note. “If she has swung into the uber hawk camp, then markets need to take notice, and that they did.” This helped lift SA coal miners on Tuesday, with Thungela surging almost 10% but the prospect of higher interest rates and energy costs could ultimately weigh on global demand.
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