Morning report - 28.1
27 January 2004 | Investments | General | Angelo Coppola
The slightly better than expect inflation data could not counteract the effect of the stronger currency which pushed local equities and bonds lower as interest rate fears increase, says Nico Kelder, economist at the Efficient Group.
The rand gained ground against the dollar, but lost against the euro as the dollar weakened. Commodities were mixed with gold gaining while oil and platinum lost ground.
European markets were flat yesterday while US markets lost most of the previous gains. This morning markets in the Far East are trading lower which could set the tone for local equities.
The release of the producer inflation today will influence the equity and bond market if it is significantly different to expectations.
