JOHANNESBURG, Aug 21 (Reuters) – The following scheduled economic event, equity and currency market moves may affect South African markets on Wednesday.
ECONOMIC EVENTS
Statistics South Africa will publish July consumer price inflation data.
SOUTH AFRICAN MARKETS
The South African rand weakened on Tuesday ahead of local inflation data, as markets awaited clues on both domestic and U.S. interest-rate paths this week.
On the stock market, the Top-40 index was little-changed.
GLOBAL MARKETS
Asian shares slipped on Wednesday as a stellar rebound in world stocks paused for breath, while bond yields and the dollar fell ahead of U.S. economic data and speeches from policymakers that are expected to make the case for interest rate cuts.
WALL STREET
U.S. stocks closed slightly lower on Tuesday, breaking their recent winning streak amid few market-moving catalysts ahead of the Jackson Hole Economic Symposium, set to get under way on Thursday.
GOLD
Gold prices were trading below record high levels on Wednesday after a rally fuelled by Western fund inflows and U.S. rate-cut optimism, as investors braced for minutes of the Federal Reserve’s latest meeting for clarity on the depth of cuts.
– – – –
Some of the main stories out in the South African press:
BUSINESS DAY
– Agricultural land at risk from property and mining, Steenhuisen says
– Court dismisses Nersa and Salga’s appeal for electricity hikes
(Compiled by Tannur Anders)
