JOHANNESBURG, Aug 27 (Reuters) – The following scheduled economic event, equity and currency market moves may affect South African markets on Tuesday.

ECONOMIC EVENTS

South Africa’s government will hold its weekly auction of long-term bonds.

SOUTH AFRICAN MARKETS

South Africa’s rand was stable on Monday, ahead of local economic data releases this week that could give hints on the health of the local economy.

On the stock market, the Top-40 index closed down 0.33%.

GLOBAL MARKETS

Asian stocks fell on Tuesday as investors pondered looming U.S. interest rate cuts and awaited earnings from AI darling Nvidia, while rising tensions in the Middle East and supply concerns checked risk sentiment and lifted oil prices.

WALL STREET

The S&P 500 finished lower on Monday, with AI heavyweight Nvidia dipping ahead of its quarterly report this week, while investors awaited inflation data for clues about the path of interest-rate cuts by the Federal Reserve.

GOLD

Gold prices edged lower on Tuesday following a slight recovery in the dollar, although losses were capped by investor optimism for imminent U.S. rate cuts and lingering concerns about the Middle East crisis. 

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

BUSINESS DAY

– MTN closes in on goal of 135,000km fibre in Africa

– Cyril Ramaphosa moves public enterprises portfolio to line departments

(Compiled by Tannur Anders)

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