South African Markets – Factors to watch on Dec 20

JOHANNESBURG, Dec 20 (Reuters) – The following scheduled economic events, equity and currency market moves may affect South African markets on Friday.

ECONOMIC EVENTS

Energy regulator Nersa meeting on Eskom’s tariff application

SOUTH AFRICAN MARKETS

South Africa’s rand slipped on Thursday, a day after the Federal Reserve struck a hawkish tone on interest rate cuts in the coming year.

GLOBAL MARKETS

Asian shares hit a fresh three-month low on Friday as investors awaited key U.S. inflation data that could either ease or worsen concerns about stubbornly high price pressures, while the dollar towered at two-year peaks.

WALL STREET

U.S. stocks ended little changed on Thursday, giving up an initial rebound from a sharp drop in the prior session after the Federal Reserve forecast fewer-than-expected interest rate cuts and higher inflation next year.

GOLD

Gold prices were set for a weekly decline on Friday after the Federal Reserve’s verdict on its monetary policy-easing cycle signalled a slowdown in rate cuts, while focus shifted to U.S. Personal Consumption Expenditure data later in the day.

EMERGING MARKETS

For the top emerging markets news, double click on

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

BUSINESS DAY

– Treasury makes proposals to tighten laws in bid to exit greylist

– Grindrod hit hard by disruption after Mozambican election

FIN 24

– As power theft cripples Eskom, it discovers a massive racket involving its staff

(Compiled by Alexander Winning)

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