MARKET WRAP: Rand weakens as investors await Friday’s US jobs report

Recent signs point to weakness in the American labour market, which could take some steam out of inflation

06 April 2023 – 19:53 Lindiwe Tsobo

The rand weakened the most in four weeks on Thursday while the JSE firmed as investors assessed the US labour market after softer data this week sparked fears of an economic downturn.

The focus remains firmly on the US which is scheduled to publish crucial nonfarm payroll data on Friday. Market expectations are that 240,000 jobs were added in March, down from 311,000 in February, while unemployment is expected to have remained unchanged at 3.6%, Bloomberg reported…

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