JOHANNESBURG, Aug 22 (Reuters) – The following equity and currency market moves may affect South African markets on Thursday.

SOUTH AFRICAN MARKETS

The South African rand softened on Wednesday as local inflation fell to a three-year low in July, solidifying analysts’ expectations of an interest rate cut by the South African Reserve Bank next month.

In the stock market, the Top-40 index closed 0.33% higher.

GLOBAL MARKETS

Asian shares inched higher while the dollar was pinned to one-year lows on sterling and the euro on Thursday as Federal Reserve minutes showed policymakers were ready to start cutting U.S. interest rates.

WALL STREET

U.S. stocks advanced on Wednesday amid range-bound trading after investors parsed a steep downward revision in payrolls, and the release of the minutes from the most recent meeting of the Federal Reserve, which cemented expectations for a September rate cut.

GOLD

Gold prices fell on Thursday, retreating from all-time highs hit earlier this week, as the U.S. dollar ticked up ahead of U.S. jobs data and the Federal Reserve chief’s speech that could offer further insights into the interest rate outlook.

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

BUSINESS DAY

– Consumer purchasing power falls 44% in eight years

FIN 24

– Stats SA admits to serious flaws in Census 2022 data

– Eskom, Transnet move to new departments as govt preps for private sector involvement, reform

(Compiled by Tannur Anders)