JOHANNESBURG, Oct 16 (Reuters) – The following scheduled economic events, equity and currency moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

August retail sales data at 1100 GMT

SOUTH AFRICAN MARKETS

South Africa’s rand was little changed on Tuesday after the release of a local business confidence index and the central bank’s bi-annual Monetary Policy Review.

In stocks, the Top-40 index closed 0.52% lower.

GLOBAL MARKETS

Asian equities fell on Wednesday after disappointing earnings from Europe’s biggest tech firm ASML dragged chip stocks around the world, while expectations that the Federal Reserve will take a modest rate cut path propped up the dollar.

WALL STREET

Wall Street’s major stock indexes closed lower on Tuesday, with a 1% drop in the technology-heavy Nasdaq leading losses as chip stocks tumbled on demand concerns, while the energy sector fell 3% as oil prices dropped.

GOLD

Gold traded in a tight range on Wednesday as market participants awaited more U.S. economic data to determine the number of rate cuts the Federal Reserve is likely to deliver in the near term.

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

BUSINESS DAY

– Inflation now under control even in the downside scenario, Bank models show

(Compiled by Tannur Anders; Editing by Andrew Heavens)