JOHANNESBURG, Sept 18 (Reuters) – The following economic events, equity and currency market moves may affect South African markets on Wednesday.

ECONOMIC EVENTS

August consumer inflation data at 0800 GMT

July retail sales data at 1100 GMT

SOUTH AFRICAN MARKETS

The South African rand held steady on Tuesday, with investor focus on Wednesday’s U.S. Federal Reserve policy decision which could see it deliver a big interest rate cut.

In the stock market, the Top-40 index closed 1.2% higher.

GLOBAL MARKETS

The dollar ceded some of its overnight gains on Wednesday while Asian stocks put in a mixed display as traders weighed the odds of a super-sized Federal Reserve interest rate cut later in the day.

WALL STREET

U.S. stocks closed nearly unchanged on Tuesday, giving up earlier gains that had vaulted the S&P 500 and Dow Industrial Average to record highs as investors braced for the first Federal Reserve rate cut in 4-1/2 years. 

GOLD

Gold prices were flat on Wednesday as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day. 

– – – –

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

BUSINESS DAY

– GNU ministers’ actions boost confidence, says JSE boss Leila Fourie

– Prasa spent R3.8bn on irregular expenditure, says auditor-general

(Compiled by Tannur Anders)