JOHANNESBURG, Dec 3 (Reuters) – The following scheduled economic indicators, debt and currency market moves may affect South African markets on Tuesday.
Q3 GDP data
Treasury bond auction
SOUTH AFRICAN MARKETS
South Africa’s rand powered to a 5-week best as a contraction in the U.S. manufacturing sector boosted bids for emerging market currencies and fuelled bets the Federal Reserve would cut lending rates.
Asian shares tumbled on Tuesday after U.S. President Donald Trump stunned markets with tariffs on Brazil and Argentina, recharging fears about global trade tensions, while weak U.S. factory data added to the investor gloom.
Wall Street stepped back from last week’s record highs on Monday, with weak U.S. manufacturing data and fresh trade worries keeping buyers on the sidelines.
Gold prices edged up on Tuesday, hovering near the one-week high hit in the previous session, after U.S. President Donald Trump’s move to slap tariffs on Brazil and Argentina stoked fresh concerns around global trade and hit risk appetite.
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Some of the main stories out in the South African press:
– SAA tests Treasury’s resolve to reduce public expenditure
– Ratings agencies weigh SA’s finances and find them wanting
(Compiled by Alexander Winning)