JOHANNESBURG, April 30 (Reuters) – The following scheduled economic events, equity and currency market moves may affect South African markets on Wednesday.
ECONOMIC EVENTS
March money supply ZAM3=ECI, credit data ZACRED=ECI
March budget balance ZABUD=ECI
March trade balance ZATBAL=ECI
Treasury to hold press briefing on budget process
SOUTH AFRICAN MARKETS
The South African rand weakened on Tuesday as investors waited for the finance minister to say when he will present another revised national budget.
On the stock market, the Top-40 .JTOPI index was last up about 0.7%.
GLOBAL MARKETS
Shares struggled for direction on Wednesday and oil prices slid as relief over a potential easing of global trade tensions was offset by a worsening economic outlook and dour signals from corporates swept up by Donald Trump’s tariffs.
WALL STREET
U.S. stocks closed solidly in positive territory on Tuesday, after seesawing between modest gains and losses in choppy trading as investors assessed the latest round of corporate earnings, economic data and changes on the trade policy front.
GOLD
Gold prices dropped on Wednesday, pressured by a firmer dollar and a de-escalation in trade tensions, while investors awaited key U.S. data for cues on the Federal Reserve’s rate outlook.
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Some of the main stories out in the South African press:
BUSINESS DAY
– Moody’s sees further squeeze on SA banks’ interest margin
FIN 24
– Godongwana’s fresh blueprint to plug a deeper revenue hole
(Compiled by Sfundo Parakozov)
