JOHANNESBURG, Aug 14 (Reuters) – The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

South Africa July Business Confidence Index

South Africa June retail sales data

SOUTH AFRICAN MARKETS

The South African rand gained against a weaker dollar on Tuesday, shrugging off lacklustre domestic mining and unemployment data.

On the stock market, the Top-40 index closed up over 0.5%.

GLOBAL MARKETS

Asian shares rose on Wednesday after soft U.S. producer prices data stirred hopes that consumer price inflation would be benign, while the kiwi dollar slumped after its central bank cut rates for the first time since early 2020.

WALL STREET

U.S. indexes closed up on Tuesday and hit a near two-week high after softer producer prices data reinforced bets of an interest-rate cut by the Federal Reserve in September.

GOLD

Gold prices edged lower on Wednesday as investors remained on the sidelines ahead of a key U.S. inflation report later in the day that could set the tone for the Federal Reserve’s September policy meeting.

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Some of the main stories out in the South African press:

BUSINESS DAY

– Business balks at signing presidential health compact, citing NHI

– Transnet questions private sector’s preparedness for third-party access, says CEO Michelle Phillips

FIN 24

– Transnet says it may deliver a profit next year – if it can hit its rail targets

(Compiled by Bhargav Acharya)