Dear Clients,
Please find attached the Market overview for April ’24.
The document provides an overview of the economic and market conditions in April 2024, including discussions on inflation, interest rates, politics, trade, and stock market performance.
Summary :
The US Federal Reserve decided not to change policy rates, focusing on inflation and the economy’s strength.
In South Africa, inflation remains above 5%, making a rate cut unlikely.
The upcoming general election in South Africa has shifted market focus to politics.
South Africa recorded a trade surplus in March, with a significant contribution from trade with Africa.
Efforts are being made to secure a ceasefire in Gaza and the release of hostages.
US stocks have remained resilient due to better-than-expected first-quarter earnings.
Global equity markets ended in the red while emerging markets gained in US dollar terms.
The JSE All Share index gained 3.0% driven by a surge in resource stocks.
South African bonds gained 1.5% amid expectations of favorable election results.
The rand strengthened against major currencies, while the Japanese Yen weakened against the US Dollar.
Hope you’ll enjoy the fun facts that impacted our economic and market conditions.
Kind regards