JOHANNESBURG, June 28 (Reuters) – The following scheduled political and economic events, equity and currency market moves may affect South African markets on Friday.

POLITICAL EVENTS

Media reports of a major disagreement between the pro-business Democratic Alliance party and President Cyril Ramaphosa over cabinet posts in the government of national unity delaying the announcement of the executive.

ECONOMIC EVENTS

The South African Reserve Bank published the country’s M3 money supply and private sector credit figures for May.

South Africa’s government will hold its weekly auction of inflation-linked bonds.

Statistics South Africa will release data on the country’s May trade and budget balance figures.

SOUTH AFRICAN MARKETS

The South African rand fell sharply on Thursday after media reports of a major disagreement between the pro-business Democratic Alliance (DA) party and President Cyril Ramaphosa over cabinet posts.

The Johannesburg Stock Exchange’s Top-40 index .JTOPI closed down 0.4%. The benchmark 2030 government bond slumped, as the yield rose 30 basis points to 10.12%.

GLOBAL MARKETS

Asian stocks were on track for a fifth straight month of gains on Friday, bolstered by a growing view that cooling U.S. inflation could prompt the Federal Reserve to ease rates this year, while the yen tumbled to a 38-year low against the dollar.

WALL STREET

U.S. stocks ended Thursday around the unchanged mark as investors awaited fresh inflation data, with the Nasdaq able to eke out a slight gain after data showed a continued slowdown in economic activity, raising investors’ hope for rate cuts.

GOLD

Gold prices eased on Friday, but were set for a third straight quarterly rise, while investors looked forward to U.S. inflation data due later in the day for more clarity on the Federal Reserve’s interest rate-cut timeline.

EMERGING MARKETS

(Compiled by Tannur Anders; Editing by Janane Venkatraman )