JOHANNESBURG, Nov 13 (Reuters) – The following equity and currency market moves may affect South African markets on Wednesday.
SOUTH AFRICAN MARKETS
South Africa’s rand hit a three-month low on Tuesday, hurt by a stronger dollar and weaker gold prices, as markets grappled with what another Donald Trump presidency will mean for U.S. policy and trade relations.
GLOBAL MARKETS
Asian stocks slumped on Wednesday as a sharp rise in U.S. bond yields unnerved investors ahead of key inflation data that could inform the pace of Federal Reserve policy easing.
WALL STREET
Wall Street’s three major indexes closed lower on Tuesday as investors booked some profits from a post-election rally and waited anxiously for U.S. inflation data due this week.
GOLD
Gold prices edged up on Wednesday as investors sought bargains after steep declines in the previous session, while the spotlight shifted to U.S. inflation data, which could shed more light on the Federal Reserve’s path for monetary policy.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Coalition govt aims to review bilateral trade agreements
FIN 24
– Tax the rich? Treasury says it is considering a wealth tax
(Compiled by Alexander Winning)