JOHANNESBURG, July 3 (Reuters) – The following scheduled economic event, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENT

S&P Global Whole Econ PMI for June

SOUTH AFRICAN MARKETS

The South African rand extended losses on Tuesday after a turbulent start to the week as markets waited to see how the new government of national unity (GNU) would approach economic reform following the formation of the cabinet.

On the Johannesburg Stock Exchange, the blue-chip Top-40 index closed down 0.3%.

GLOBAL MARKETS

Asian stocks rose on Wednesday as comments from Federal Reserve Chair Jerome Powell reinforced expectations that U.S. rate cuts were not far off, while the yen struggled at levels last seen in 1986, keeping traders wary of Japanese intervention.

WALL STREET

Wall Street’s main stock indexes closed higher on Tuesday, boosted by gains in Tesla and megacap growth stocks, but volumes were thin ahead of the July Fourth holiday and the closely watched release of June nonfarm payrolls on Friday.

GOLD

Gold prices were flat on Wednesday as investors awaited minutes of the Federal Reserve’s last policy meeting for fresh cues on when the U.S. central bank will start cutting interest rates.

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

BUSINESS DAY

– Sibanye carves away over 11,000 jobs in 18 months

– Sasol warns of uncertain future for piped-gas market

FIN 24

– Discovery ordered to withdraw ‘misleading’ gap cover ad

(Compiled by Bhargav Acharya)