South African Markets

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JOHANNESBURG, July 17 (Reuters) – The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

May retail sales data at 1100 GMT

Mining and petroleum minister briefs reporters on his department’s plans from 1200 GMT

The South African rand clawed back some losses on Tuesday, after tumbling on Monday, on rising expectations that the U.S. Federal Reserve will soon cut interest rates.

GLOBAL MARKETS

Gold hit a record and bonds rallied on Wednesday as markets prepared for global interest rates to fall, while stocks in Taiwan slipped after U.S. presidential candidate Donald Trump sounded lukewarm in his commitment to the island’s defence.

WALL STREET

Wall Street stocks rose and the Dow Jones Industrial Average hit an all-time closing high on Tuesday after U.S. retail sales data supported the view that the Federal Reserve is approaching its easing cycle, reining in inflation while avoiding a recession.

GOLD

Gold prices rose to an all-time peak on Wednesday, driven by mounting hopes of a U.S. interest rate cut in September after recent comments from Federal Reserve officials.

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

BUSINESS DAY

– Bond rally since election gives fiscus a breather

– Presidential climate advisers propose way forward to streamline just transition financing

(Compiled by Alexander Winning)

ECONOMIC EVENTS