Despite declining Chinese manufacturing, markets were buoyed in July by hopes that interest rate hikes will moderate as growth slows
The JSE looks set to join mostly positive, albeit somewhat subdued, Asian markets on Monday morning, with investors waiting for fresh catalysts.
Wall Street had its best month since 2020 in July, buoyed by strong earnings reports and indications from the US Federal Reserve that further hefty interest rate hikes may not be required. Focus is still on US earnings this week, while the big economic news will be US nonfarm payrolls on Friday. Markets are also watching for a possible visit to Taiwan by US House speaker Nancy Pelosi that could significantly ratchet up tension with China.
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